Corporate Responsibility & Accountability

Corporate Responsibility & Accountability Paper details: Financial Monitoring Task Analyse and monitor a budget Criteria • Monitor budget processes • Check actual income and expenditure against budget • Identify budget deviations • Manage overspends and underspends in keeping with organisation targets - Commercial Services works on a 5% greater than or better than - 5% under budget needs an action and to be managed and reported on to Executive & Board of Directors, if 5% over budget no action required. Task Select a budget that you are familiar with and closely analyse your cost centres and pick at least 3 issues for a cost centre/s to comment upon. Please outline these issues in writing: Explain the issue and what it means : For example - The salaries are over on the year to date budget and most of it appears to have occurred from the past month. If this continues this will mean that I will not have money that I have set aside for a community event which is critical to my contract targets. • Need to ensure that you think beyond simply being under or over budget. Need to tie it in to contract requirements etc.. Budget attached to use