Apply Financial Knowledge Within a Human Resource Environment

Course details

This unit addresses the skills and knowledge required to manage operations from a financial perspective. It covers planning for financial management in relation to business plans and strategies and monitoring the implementation of financial plans.

1. Analyse financial statements
2. Allocate finances within people management/human capital department
3. Monitor the implementation of allocated budgets

Learning Outcomes

1. Analyse Financial Information
   • The interpretation of business strategy plans
   • The analysis of budgets and financial plans
2. HR Financial Resource Allocation
   • Communications for acquisition of financial resources
   • Processes for monitoring and controlling HR cost variances
   • HR stakeholders corporate communication of budgetary impact
3. Methods and Models of Financial Monitoring
   • Identify and devise measures for monitoring processes and for data gathering and feedback to evaluate budget implementation
   • Data analysis for refinement of budget implementation
   • Monitor influences and trends affecting the budget