Plan for financial management

Section C

1. Plan for financial management by reviewing previous financial data and analysing areas of profit and loss.

2. Prepare, implement and revise a budget which aligns with the business plan, is based on research and analysis of previous financial data and cash flow trends, and meets all compliance requirements.

3. Describe how you have contributed to financial bids and estimates.

4. Establish a budget and allocate funds in accordance with statutory and organisational requirements

5. Use your communication skills to:

• Report on financial activity and make recommendations
• identify and prioritise significant issues
• ensure managers and supervisors are clear about budgets

6. Analyse the effectiveness of existing financial management approaches including reviewing financial management software, managing risks of misappropriation of funds, ensuring systems are in place to record all transactions, maintaining an audit trail and complying with due diligence.