Implement processes to monitor actual expenditure

Assignment Help Management Theories

Reference no: EM133583961

Manage budgets and financial plans

Task 1:

You (the learner) to manage budget and financial plans

Ms. Jones runs a private school. She intends to open a new branch in Springvale. The school is going to constitute 50 classrooms and couple of grounds including a basketball court and an indoor badminton court.

You as a financial analyst have been given a job to access and evaluate budget and financial plans for the new branch, negotiate any changes required to be made to budget and financial plans, prepare contingency plans in the event that initial plans need to be varied, communicate details of agreed budget and financial plans to relevant team members, support team members to access resources and systems to perform required roles, implement processes to monitor actual expenditure, control costs and modify contingency plans as required according to financial objectives.

Collect information on effectiveness of financial management processes within work team, analyze variance between actual and budgeted finances. You have been advised to submit a report incorporating the budget plan, expenditure involved, details of the financial management processes along with the improvements in the existing financial management processes. Submit this report for the assessment.

Reference no: EM133583961

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