This checklist is designed to ensure a thorough analysis of all expenses incurred by the organization, identifying trends, variances, and opportunities for cost-saving measures.
Gather all expense reports submitted by various departments for the analysis period.
Sort expenses into relevant categories such as Travel, Supplies, Utilities, etc., to facilitate analysis.
Compare actual expenses to budgeted amounts and highlight significant variances for further investigation.
Review expense categories for potential savings by identifying unnecessary expenditures or opportunities for negotiation.
Compile findings into a summary report detailing expenses, variances, and recommendations for cost management.
Schedule a meeting with management to present the summary report and discuss potential action steps based on the findings.