Monitoring income and expense budgets

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Reference no: EM132867372

MONITOR FINANCIAL ACTIVITIES AGAINTS FINANCIAL BUDGET:

1. Identify the frequency with which you monitor budgets including description of variances in timeframes between different types of budgets (where applicable).

2. Describe the types of checks you have to make when monitoring income and expense budgets.

3. Describe how deviations are indicated on the budgets received/produced highlighting how the budget flags 'unacceptable' deviations (where applicable).

4. Describe one instance when you have to investigate options for more effective management of deviations.

5. Describes how you advise colleagues of budget status including the timeframes that apply to this notification.

Reference no: EM132867372

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