Elements and Performance Criteria
- Plan preparation timetable
- Identify assumptions and parameters
- Business plans and exception reports are reviewed to identify and resolve conflicts in assumptions
- Assumptions and parameters are reviewed to ensure compliance with organisation policy and procedures
- Current and historical financial reports are analysed to establish trends and the external environment examined to gain an objective overview
- Issue instructions and relevant aids for preparation of forecasts and projections
- Instructions issued are clear and unambiguous and comply with organisation format to ensure ease of use and consistency of interpretation
- Types of business are identified to enable effective financial models to be selected with training provided to ensure comprehensive understanding and effective use of the models by users
- Collect, consolidate, model and analyse data
- Data is reviewed to ensure consistency with actual results and model used with analysis results documented in a clear and unambiguous way
- Data collected are reliable, valid, complete and comprehensive
- Processing is completed in accordance with established timetable and data are consolidated in a logical structured format that enables ready analysis
- Document results and obtain approval