The budget setting skills online assessment can assess how well you are able to set realistic budgets. Budget setting is fundamental to effective financial management and is one of a number of skills employers find desirable for management and other positions. Budget monitoring requires an accurate base budget to compare with actual expenditure. Poor budget setting can often result in staff ignoring budgets all together.
Organisations wishing to achieve value for money from their resources need effective budget setting. Realistic budgets can then be used for financial control. Our budget setting skills online assessment is an excellent tool for organisations to use to identify and improve their staff skills in this area. It is one of a range of online competency assessments available.
Bespoke assessments can also be developed to target specific areas of staff knowledge required by the organisation.
The online assessment provides access to our assessment tool; three attempts at our online questionnaire; and a feedback report showing the level of competency achieved in two areas – underpinning knowledge and practical application. A free trial of the online competency assessment tool is available.
The topics covered by the assessment include:
- Budget Setting Process
- Incremental budgeting
- Zero based budgeting
- Budget Setting Assumptions
- Calculating Budgets
- Profiling Budgets
- Forecasting Income