A day in the life of budget analyst Essay Example | Topics and Well Written Essays - 1250 words

A day in the life of budget analyst - Essay Example From this quote it is very clear that budget analysts must be such like a bird who have good voice mean he must have such skills that the whole organization can get benefit from it. Financing is the most important in every organization because no organization can run without the finance. So the management of the finance is very much important. He provides benefits of its analytical skills, communication skills, detailed oriented skills, mathematical skills, writing skills to all the organization. He makes budget, interpret its each item carefully so that a single mistake of him can lead to a disastrous loss. For this purpose organization hire budget analyst. Budget analyst also called budget coordinator, budget examiner, budget officer, chief financial officer and treasurer (Gloria. A 1987). In simple words we can say that budget analyst help the public and private organizations in managing their finance. They prepare budget reports and monitor the institutional spending. The budget is prepared monthly, quarterly, semiannually and on yearly basis (Ross & Firth 1987). The life of a budget analyst is very difficult. Here I will discuss a day in the life of budget analyst. Budget analyst performs the following duties in a day of his life: Work with project manager and discuss the organization’s budget ... Analyze the data to determine the costs and benefits of different projects from where future inflows are expected. He may give suggestions of program spending cuts and redistribution of extra funds. Top executive take decision on the work of budget analyst so the budget analyst who makes reports and budgets must give true picture about the organization’s inflows and outflows. He communicates its suggestions and opinions to officials. If there is any difference between desired budget and actual budget then he make a report to officials in which he explain the reasons of variation and give suggestions for reconciliation of actual and desired budget. He provides policy analysis and draft budget related legislation (Gloria. A 1987). Budget analyst has the following skills to perform its routine task. Analytical skill-He has ability to understand the things and of its interpretation as well. Communication skills-to defend its interpretation because there is need of explanation of t he results Detail oriented-ability to make explanation of every item of the budget Math skill-strong accounting skills and strong grip on finance usage of database software Writing skill-make such a budget and the interpretation of it are easily understandable to the others. He works in office. His shift is full time. But sometimes he has to do some extra work when the review of budget is made. He has normally bachelor’s degree but some organizations prefer that analyst have master’s degree. Because preparing the budget is not a simple task. For the development of budget strong numerical and analytical skills are required. These analytical skills are statistical techniques or accounting methods. He must have strong grip in finance. For the govt.