1.Gather the record operating and cost data required for the task through completion of the following steps:

a.Identify and establish the systems to generate operating and cost data. Record the systems identified and established.

b.Systematically code, classify, and check the data for accuracy and reliability, according to the organisational policy and procedures.

2.Complete the following steps to analyse the data and to assign costs:

a.Analyse the cost data and identify cost behaviour characteristics. Document the analysis and identified characteristics as required by the tasks

b.Assign the costs to specified products, services and organisational units.

c.Reconcile the data to confirm that calculations are accurate and comply with organisational procedures.

d.Confirm that the interpretation of costs is supported by a valid analysis and is consistent with organisational business performance objectives.

3.Prepare the cost reports and budgets through completion of the following steps:

a.Obtain, and record, cost information advice from relevant sections of the task

b.Prepare the range of cost reports and budgets required to meet management information requirements, ensuring that these are in a clear structure and format, and that they comply with management information requirements and organisational practices

a.Calculate and analyse the variances against budget. Document this analysis.

b.Review to confirm that the reports are accurate, comprehensive and comply with management information requirements and organisational practices. Record this review, including any issues identified.

Use the variance analysis to review effectiveness of cost assignment processes.