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Introduction to Budget Management

Manage expenditure against a budget
Course Prerequisites:
Learners should be competent in Communication and Mathematical Literacy at NQF Level 3.
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Duration
2 Days

Purpose of the unit standard:

This Unit Standard specifies the knowledge and skills required to manage a budget within the organisation. This Unit Standard is intended for junior managers of organisations.

The qualifying learner is capable of:

  • Explaining the concept of budgeting pertinent to an area of responsibility.
  • Determining the elements of a budget relevant to an area of responsibility.
  • Monitoring and controlling actual expenses (and revenue), against projected budget

Course Content

Explain the concept of budgeting pertinent to an area of responsibility

Specific Outcome

  • The concept of a budget is explained with reference to expenditure in an area of responsibility
  • The budgeting technique employed is explained by means of worked examples

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Determine the elements of a budget in an area of responsibility

Specific Outcome

  • The elements of the budget are identified for the resources required to meet the objectives
  • Internal and external constraints on a budget are identified in terms of an own organisational context

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Monitor and control actual expenses against budget.

Specific Outcome

  • Actual expenses are monitored according to Standard Operating Procedures
  • Variances are identified and corrective measures are proposed and/or taken according to Standard Operating Procedures

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CTU Training Solutions , Updated: July 23rd, 2019

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The course information above is subject to change without notification due to market trends in the industry, legislation and/or programme version updates. Terms and Conditions

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