Business and Administration

963 Words Aug 16th, 2015 4 Pages
Unit six: Principles of budgets in a business environment

Assessment

You should use this file to complete your Assessment.
The first thing you need to do is save a copy of this document, either onto your computer or a USB drive
Then work through your Assessment, remembering to save your work regularly
When you’ve finished, print out a copy to keep for reference
Then, go to www.vision2learn.com and send your completed Assessment to your tutor via your My Study area – make sure it is clearly marked with your name, the course title and the Unit and Assessment number.

Please note that this Assessment document has 12 pages and is made up of 3 Sections.

Name: ANASTASIA ROTARU

Section 1: The purpose of budgets

This section will help you to
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Section 3: Managing budgets

This section will help you to evidence Learning Outcome 3: Understand how to manage budgets.

Learning objective
Place in Assessment
3.1 Explain the purpose of monitoring, controlling and recording income and expenditure
Question 1 Page 6
3.2 Describe situations in which revisions to the budget and / or plans may be needed
Question 2 Page 7

It is important to monitor, control and record income and expenditure. [3.1]

1a. In the space below, explain the purpose of monitoring budgets in relation to both income and expenditure. Make reference to the advantages of doing this and the consequences of not doing this when you give your answer. Provide some examples to support your answer. [3.1]

1b. In the space below, explain the purpose of controlling budgets in relation to both income and expenditure. Make reference to the advantages of doing this and the consequences of not doing this when you give your answer. Provide some examples to support your answer. [3.1]

1c. In the space below, explain the purpose of recording budgets in relation to both income and expenditure. Think about the advantages of doing this and the consequences of not doing this when you give your answer. Provide some examples to support your answer.
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