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What data is necessary for the purpose of creating cost and operating budgets?
What data is necessary for the purpose of creating cost and operating budgets?
Be specific, i.e. cash flow reports for the last 3 months, P&L statements for the last 12 months etc
What sort of a system would you set up to retrieve the necessary data?
How would you ensure the appropriate departments staff are aware of what is required of them?
How would you go about gathering the data?
How would you code and classify the data appropriately for management use?
How would you store the data?
Briefly discuss how you would ensure security of the financial data
Also discuss how you would ensure the financial data is protected from being erased or lost.
What steps should you undertake to ensure the data is accurate and reliable?
Give a detailed explanation on how you adequately ensure your interpretation of the data is reliable and consistent with management performance strategies.
What constitutes valid analysis?
What auditing requirements would be involved in this process?
What steps would you take to ensure your reasoning is logical, transparent and supported by the data?
