Budget analyst

Definition

A budget analyst is a professional who examines financial plans and budgets within an organization. They ensure that resources are allocated efficiently and help guide financial decisions.

5 Must Know Facts For Your Next Test

1. Budget analysts often work in government agencies, private corporations, or non-profits.
2. They analyze budget proposals, comparing them to actual spending and financial performance.
3. Their role includes identifying trends, preparing reports, and advising on cost-effective measures.
4. Strong analytical skills and attention to detail are crucial for a budget analyst.
5. They frequently use software tools like Microsoft Excel and specialized budgeting software.

Review Questions

• What are the primary responsibilities of a budget analyst?
• In what types of organizations can you typically find budget analysts working?
• Why is attention to detail important for a budget analyst?

Related terms

Financial Analyst: A professional who evaluates investments, financial statements, and economic trends to provide investment recommendations.

Cost Accountant: An accountant who specializes in tracking, recording, and analyzing costs associated with a company’s products or services.

Financial Planner: A professional who helps individuals manage their personal finances by creating comprehensive financial plans.