Effective Budget Control Checklist for Managers
School
American InterContinental University**We aren't endorsed by this school
Course
FINA 425
Subject
Information Systems
Date
Dec 10, 2024
Pages
1
Uploaded by DoctorSalamanderPerson287
Proper Budget Control Checklist A basic checklist that managers can use to ensure proper control should include the following tasks (Controlling a Budget, 2001): ReferenceControlling a budget.(2001). Retrieved from http://www.entrepreneur.com/tradejournals/article/100012296.html Budget Control ChecklistUnderstand the overall budget: line items, amounts, bottom line, etc.Request and review budget reports monthly.Communicate with accounts department regularly (ask questions, assess data, etc.).Establish and follow a monitoring and early-detection system for the company at appropriate times (weekly, monthly, or quarterly).Identify and assess variances and problem areas.Revise the budget as necessary, offering corrective measures. Be transparent and share information with the appropriate staff.
