a)What budgets and financial plans should be developed for the benefit of the business’ operations?
b)What staff positions need to be involved in the establishing of new budgets?
c)Discuss how teams would be able to access the budget relevant to their department/cost centre. Where are the budgets located and what are some boundaries that should be established around
accessing these?
d)How can they ensure that the budget/financial plans will be realistic and achievable and not just a “pipe dream”?
e)How can they ensure the reports on the budgets are accurate, understandable, clear and logical?
f)Explain the preparation and process steps they would need to follow in order to negotiate any changes to the budget/financial plan
g)Provide an example of a situation or event that could cause a problem/issue during the
implementation of any budget/financial plan.
h)Discuss some of the options for a contingency plan that could address this potential problem/issue.
i)What technology skills would you recommend for team members involved in record keeping for the organisation’s finances? Are there certain programs which are best for use in this area?