Estimates & ForecastsDeveloping reasonable estimates and forecasts for future expenses based on due diligence such as reference class forecasting.
Business CasesCreating formal proposals for spending including a return on investment or cost/benefit analysis.
Budget PlanningDeveloping capex and opex budgets.
Budget ApprovalsCommunicating proposed budgets and business cases to seek formal approval of spending.financial controls such as segregation of duties for submitting, approving, dispersing, reconciling and auditing expenditures.
AuthorizationImplementing controls such that expenditures can't occur without authorization.
AccountabilityEnsuring that people are accountable for their expenditures and adherence to financial controls.
Policy, Process & ProcedureDeveloping formal policy, process and procedure for financial controls. This may consideration productivity using techniques such as automation that streamline such processes.
ProcurementAdhering to an organization's procurement policies to select and manage suppliers and partners based on formal and transparent processes that prevent fraud.
ComplianceCompliance to laws, regulations, standards and internal policy.
AuditsSupporting financial audits.
Monitoring & EscalationMonitoring finances to immediately escalating issues, risks and irregularities. For example, escalating to executive management when you realize a project will go overbudget.
Budget AdminThe process of continually updating a budget to reflect current realities.
Financial ReportingCommunicating your financial estimates, plans, expenditures and position to stakeholders to create transparency.
|Overview: Fiscal Management|
The process of planning, directing and controlling financial resources.