242810 Manage Expenditure Against a Budget

This Unit Standard specifies the knowledge and skills required to manage a budget within the organisation. This Unit Standard is intended for junior managers of organisations.

The qualifying learner is capable of:
- Explaining the concept of budgeting pertinent to an area of responsibility.
- Determining the elements of a budget relevant to an area of responsibility.
- Monitoring and controlling actual expenses (and revenue), against projected budget.

NQF Level 4 - 6 Credits

This unit standard replaces:
13941 Apply the budget function in a business unit

Learning assumed to be in place and recognition of prior learning
Learners should be competent in Communication and Mathematical Literacy at NQF Level 3.

Unit standard range
- 'Revenue' includes, but is not limited to income from sales, services and fund-raising.
- 'Expenditure' includes, but is not limited to, expenses, operating expenses, production costs, inventory, consumables and materials.
- 'Budget' means either the complete budget, or part-budget for which the learner is responsible.
- 'Area of responsibility' includes, but is not limited to, cost centre, section, department or team.
- 'Junior managers' include, but are not limited to, team leaders, supervisors, foremen and section heads.
- 'Standard Operating Procedures' (SOPs) may comprise formal written documents or accepted practices in the organisation.
- 'Organisation' includes but is not limited to, workplac