Preparing organisational budgets to support short and long-term business plans through forecasting, allocation and financial policy setting.

Proficiency Level

Level 1 (Follow)

  • Understand basics of the budgeting process, including purpose and use.
  • Analyse historical revenues and expenses to determine seasonal patterns and anticipate annual requirements.

Level 2 (Assist)

  • Anticipate operational and capital requirements.
  • Develop financial budgets to support goals of a small to midsize organisation or department/division.
  • Validate assumptions made by departments.

Level 3 (Apply)

  • Prepare business unit’s operational budgets.

Level 4 (Ensure)

  • Manage budgeting and forecasting for annual financial and business planning within the business unit.
  • Develop long-term financial plans and budget requirements.
  • Recommend an appropriate budgeting methodology (e.g., flexible, continuous, rolling, zero-based) to use in a given business situation.
  • Link budgeting process to forecasting and strategic planning process.
  • Integrate and consolidate information from diverse departments.
  • Communicate budget to organisation effectively.

Level 5 (Strategise)

  • Endorse organisational financial and treasury management policies, systems, budgets and plans.
  • Design and lead budget and financial planning process across multiple business units in a complex organisation using advanced software tools.
  • Understand complex budgets and communicate them to others.
  • Serve as an expert in the field.