Exert expenditure control

Analyse expenditure accounts against the income and usages of different company units, companies, or organisms at large. Recommend usage of financial resources in efficient manners.

exert control of expenditures
control expenditure spending
monitor expenditures
exert expenditure controls

skill/competence

cross-sector

Exert expenditure control is an essential skill of the following occupations:

Budget manager: Budget managers assess financial proposals of different departments before granting financial resources to projects. They monitor the implementation of budget policies and procedures. They work closely with other departments in the evaluation of programs, their impact in the organisation, the revenue that they can yield, and the financial efforts required.
Budget analyst: Budget analysts monitor the spending activities of public and private institutions and companies. They prepare budget reports, review the budget model used in the company and ensure compliance with the budgeting policies and other legal regulations.
Financial controller: Financial controllers handle all tasks related to the budgeting and accounting aspects of a company or organisation. They implement and ensure compliance with internal financial and accounting procedures, and prepare documentation for external audits. They collect information related to financial statements such as assets, liabilities, equity, and cash flow in order to assess the company’s financial position to prepare annual budgets and forecasts.

Exert expenditure control is optional for these occupations. This means knowing this skill may be an asset for career advancement if you are in one of these occupations.

Financial manager: Financial managers handle all the matters in reference to the finance and investments of a company. They manage financial operations of companies such as the assets, liabilities, equity and cash flow aiming to maintain the financial health of the company and operative viability. Financial managers evaluate the strategic plans of the company in financial terms, maintain transparent financial operations for taxation and auditing bodies, and create the financial statements of the company at the end of the fiscal year.
Corporate treasurer: Corporate treasurers determine and oversee the financial strategic policies of a company or organisation. They use cash management techniques like account organisation, cash flow monitoring, liquidity planning and control, risk management including currency and commodity risks and maintain close connection with banks and rating agencies.
Cost analyst: Cost analysts prepare regular costs, budgeting analyses and reports in order to contribute to the overall cost planning and forecasting activities of a business. They review and reconcile key balance sheets and identify new opportunities to save costs.
Asset manager: Asset managers invest the money of a client into financial assets, through vehicles such as investment funds or management of individual clients’ portfolios. This includes the management of the financial assets, within a given investment policy and risk framework, the provision of information, the assessment and monitoring of risks.
Accountant:
Accountants review and analyse financial statements, budgets, financial reports, and business plans in order to check for irregularities resulting from error or fraud, and provide their clients with financial advice in matters such as financial forecasting and risk analysis. They may audit financial data, resolve insolvency cases, prepare tax returns and provide other tax-related advice in reference to current legislation.

References

1. Exert expenditure control – ESCO