Unit Six: Principles of Budgets in a Business Environment

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Unit six: Principles of budgets in a business environment


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 7 pages and is made up of 3 Sections.


Section 1: The purpose of budgets

This section will
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The budgets process could help to spread resoursces that increase the skill to get best outcome.

Now that you have completed Section 1 of your Assessment, remember to save the work you have done so far – you will need to send your work to your tutor for marking once you have completed all 3 Sections of this Assessment.

Section 2: How to develop budgets

This section will help you to evidence Learning Outcome 2: Understand how to develop budgets.

|Learning objective |Place in Assessment |
|2.1 Explain the purpose of agreeing the format in which a budget will be presented |Question 1 Page 2 |
|2.2 Explain the purpose of using estimations when developing a budget and ways of doing so |Question 2 Page 3 |
| |Question 3 Page 3 |
|2.3 Explain the purpose of identifying timescales, priorities and financial resources needed |Question 4 Page 4 |
|when preparing a budget and ways of doing so |Question 5 Page 4 |
|2.4 Describe the purpose of negotiating and agreeing a budget |Question 6
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