company policies
The set of rules that govern the activity of a company.
Cost analysts prepare regular costs, budgeting analyses and reports in order to contribute to the overall cost planning and forecasting activities of a business. They review and reconcile key balance sheets and identify new opportunities to save costs.
Competences and skills
33 ESCO relationsEssential knowledge 4 competences
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
3 competencescost management
The process of planning, monitoring and adjusting the expenses and revenues of a business in order to achieve cost efficiency and capability.
financial department processes
The different processes, duties, jargon, role in an organisation, and other specificities of the financial department within an organisation. Understanding of financial statements, investments, disclosing policies, etc.
Cross-sector
1 competenceliquidity management
The theory and practices around the management of liquidity in a company with the aim of facilitating meeting obligations with thirds parties without compromising the smooth functioning of the company nor incurring in substantial losses.
Essential skills and competences 9 competences
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
1 competenceidentify process improvements
Identify possible improvements to operational and financial performance, in order to increase productivity, efficiency, quality, and streamline procedures.
Cross-sector
8 competencesassess financial viability
Revise and analyse financial information and requirements of projects such as their budget appraisal, expected turnover, and risk assessment for determining the benefits and costs of the project. Assess if the agreement or project will redeem its investment, and whether the potential profit is worth the financial risk.
control of expenses
Monitor and maintain effective cost controls, in regards to efficiencies, waste, overtime and staffing. Assessing excesses and strives for efficiency and productivity.
evaluate budgets
Read budget plans, analyse the expenditures and incomes planned during certain period, and provide judgement on their abidance to the general plans of the company or organism.
interpret financial statements
Read, understand, and interpret the key lines and indicators in financial statements. Extract the most important information from financial statements depending on the needs and integrate this information in the development of the department's plans.
perform cost accounting activities
Execute the cost related activities and operations within the accounting activities such as standard cost development, average pricing analysis, margin and cost ratio analysis, inventory control, and variance analysis. Report the results to management and advise on possible courses of action to control and reduce the costs.
prepare cost-plus pricing models
Make up cost and pricing models on a regular basis by taking into account the cost of materials and supply chain, personnel and operating costs.
provide cost benefit analysis reports
Prepare, compile and communicate reports with broken down cost analysis on the proposal and budget plans of the company. Analyse the financial or social costs and benefits of a project or investment in advance over a given period of time.
synthesise financial information
Collect, revise and put together financial information coming from different sources or departments in order to create a document with unified financial accounts or plans.
Optional knowledge 1 competence
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
0 competencesNo competences in this bucket.
Cross-sector
1 competencefinancial forecasting
The tool used in performing fiscal financial management to identify revenue trends and estimated financial conditions.
Optional skills and competences 19 competences
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
3 competencescreate a financial report
Finalise project accounting. Prepare an actual budget, compare the discrepancy between the planned and actual budget, and draw final conclusions.
manage inventory
Control product inventory in balance of availability and storage costs.
support development of annual budget
Support the development of the annual budget by producing base data as defined by the operations budget process.
Cross-sector
16 competencesadvise on tax planning
Advise on appropriate strategies to include taxes in the overall financial plan in order to reduce the tax load. Advise on questions related to tax legislation and provide advise on the possible implications that decisions in financial matters can cause in a tax declaration. Advise on questions concerning things such as the creation of a company, investments, recruitments, or company successions.
analyse financial performance of a company
Analyse the performance of the company in financial matters in order to identify improvement actions that could increase profit, based on accounts, records, financial statements and external information of the market.
analyse financial risk
Identify and analyse risks that could impact an organisation or individual financially, such as credit and market risks, and propose solutions to cover against those risks.
analyse transportation costs
Identify and analyse transportation costs, service levels and availability of equipment. Make recommendations and take preventive/corrective measures.
calculate production costs
Calculate the costs for every production stage and department.
carry out tendering
Place the request for a quotation to the organisation requesting a tender, then perform the work or supply the goods agreed with them during the tendering process.
create a financial plan
Develop a financial plan according to financial and client regulations, including an investor profile, financial advice, and negotiation and transaction plans.
disseminate information on tax legislation
Provide advise on the possible implications for companies or individuals on decisions regarding tax declaration based on tax legislation. Advise on the favourable tax strategies that could be followed depending on the needs of the client.
enforce financial policies
Read, understand, and enforce the abidance of the financial policies of the company in regards with all the fiscal and accounting proceedings of the organisation.
execute analytical mathematical calculations
Apply mathematical methods and make use of calculation technologies in order to perform analyses and devise solutions to specific problems.
exert expenditure control
Analyse expenditure accounts against the income and usages of different company units, companies, or organisms at large. Recommend usage of financial resources in efficient manners.
explain accounting records
Provide additional explanation and disclosure to staff, vendors, auditors, and to any other instance about the way accounts were recorded and treated in the financial records.
manage budgets
Plan, monitor, report on the budget and prepare set production budgets.
manage payroll reports
Maintain personnel records as well as payroll reports. Record evaluations, promotions or disciplinary actions.
negotiate supplier arrangements
Reach an agreement with the supplier upon technical, quantity, quality, price, conditions, storage, packaging, send-back and other requirements related to the purchasing and delivering process.
prepare financial statements
Collect, entry, and prepare the set of financial records disclosing the financial position of a company at the end of a certain period or accounting year. The financial statements consisting of five parts which are the statement of financial position, the statement of comprehensive income, the statement of changes in equity (SOCE), the statement of cash flows and notes.