Profession budget manager

Budget managers assess financial proposals of different departments before granting financial resources to projects. They monitor the implementation of budget policies and procedures. They work closely with other departments in the evaluation of programs, their impact in the organisation, the revenue that they can yield, and the financial efforts required.

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Personality Type

  • Enterprising / Conventional

Knowledge

  • Accounting department processes

    The different processes, duties, jargon, role in an organisation, and other specificities of the accounting department within an organisation such as bookkeeping, invoices, recording, and taxing.

  • Financial statements

    The set of financial records disclosing the financial position of a company at the end of a set period or of the accounting year. The financial statements consisting of five parts which are the statement of financial position, the statement of comprehensive income, the statement of changes in equity (SOCE), the statement of cash flows and notes.

  • Company policies

    The set of rules that govern the activity of a company.

  • Financial forecasting

    The tool used in performing fiscal financial management to identify revenue trends and estimated financial conditions.

  • Cost management

    The process of planning, monitoring and adjusting the expenses and revenues of a business in order to achieve cost efficiency and capability.

  • Corporate social responsibility

    The handling or managing of business processes in a responsible and ethical manner considering the economic responsibility towards shareholders as equally important as the responsibility towards environmental and social stakeholders.

  • Financial department processes

    The different processes, duties, jargon, role in an organisation, and other specificities of the financial department within an organisation. Understanding of financial statements, investments, disclosing policies, etc.

  • Budgetary principles

    Principles of estimating and planning of forecasts for business activity, compile regular budget and reports.

  • Financial management

    The field of finance that concerns the practical process analysis and tools for designating financial resources. It encompasses the structure of businesses, the investment sources, and the value increase of corporations due to managerial decision-making.

  • Financial analysis

    The process of assessing the financial possibilities, means, and status of an organisation or individual by analysing financial statements and reports in order to make well informed business or financial decisions.

Skills

  • Plan health and safety procedures

    Set up procedures for maintaining and improving health and safety in the workplace.

  • Liaise with managers

    Liaise with managers of other departments ensuring effective service and communication, i.e. sales, planning, purchasing, trading, distribution and technical.

  • Create a financial plan

    Develop a financial plan according to financial and client regulations, including an investor profile, financial advice, and negotiation and transaction plans.

  • Manage budgets

    Conduct cost estimates and budget planning. Monitor the budget, as well as costs and expenses. Forecast the budget development continuously. Report on the budget.

  • Analyse market financial trends

    Monitor and forecast the tendencies of a financial market to move in a particular direction over time.

  • Integrate strategic foundation in daily performance

    Reflect on the strategic foundation of companies, meaning their mission, vision, and values in order to integrate this foundation in the performance of the job position.

  • Strive for company growth

    Develop strategies and plans aiming at achieving a sustained company growth, be the company self-owned or somebody else's. Strive with actions to increase revenues and positive cash flows.

  • Follow company standards

    Lead and manage according to the organisation's code of conduct.

  • Advise on financial matters

    Consult, advise, and propose solutions with regards to financial management such as acquiring new assets, incurring in investments, and tax efficiency methods.

  • Monitor financial accounts

    Handle financial administration of your department, keep the costs down to only necessary expenses and maximise the revenues of your organisation.

  • Enforce financial policies

    Read, understand, and enforce the abidance of the financial policies of the company in regards with all the fiscal and accounting proceedings of the organisation.

  • Interpret financial statements

    Read, understand, and interpret the key lines and indicators in financial statements. Extract the most important information from financial statements depending on the needs and integrate this information in the development of the department's plans.

  • Evaluate budgets

    Read budget plans, analyse the expenditures and incomes planned during certain period, and provide judgement on their abidance to the general plans of the company or organism.

  • Exert expenditure control

    Analyse expenditure accounts against the income and usages of different company units, companies, or organisms at large. Recommend usage of financial resources in efficient manners.

  • Explain accounting records

    Provide additional explanation and disclosure to staff, vendors, auditors, and to any other instance about the way accounts were recorded and treated in the financial records.

  • Manage staff

    Manage employees and subordinates, working in a team or individually, to maximise their performance and contribution. Schedule their work and activities, give instructions, motivate and direct the workers to meet the company objectives. Monitor and measure how an employee undertakes their responsibilities and how well these activities are executed. Identify areas for improvement and make suggestions to achieve this. Lead a group of people to help them achieve goals and maintain an effective working relationship among staff.

  • Follow the statutory obligations

    Understand, abide by, and apply the statutory obligations of the company in the daily performance of the job.

  • Support development of annual budget

    Support the development of the annual budget by producing base data as defined by the operations budget process.

  • Control financial resources

    Monitor and control budgets and financial resources providing capable stewardship in company management.

Optional knowledge and skills

review investment portfolios estimate profitability oversee the facilities services budget analyse financial performance of a company advise on public finance statistics inspect government expenditures create a financial report business management principles public finance funding methods assess financial viability prepare financial statements accounting techniques