About the Budgeting test
Budgeting is a key part of financial management – planning the use of resources, such as people, cash flow, capital spend, and target setting to ensure the financial goals of a business are met. Developing and applying financial controls and procedures is essential to ensuring the budget is adhered to.
This test evaluates the candidate's ability to read and interpret data, such as financial data, estimate the financial resources and needs of a project or organization, monitor and control a budget, and apply financial policies and controls for your organization.
This screening test helps you to identify management that can review profitability and sales data, analyze time sheets and work charts, and analyze income against expenses. This test helps you identify employees who can properly estimate the amount of financial resources needed for a project, work with quotes from other businesses, and estimate expenses. This budgeting test will help you identify candidates who can apply variance analysis, determine budgetary discrepancies, and manage cash flow, and who can apply and enforce your company’s cash management and payment tracking policies.
Candidates who perform well on this test have a strong understanding of the budgeting process and solid experience in financial analysis and cash flow management. They will also have a good understanding of financial controls and processes to ensure there is adequate control of cash.