The Budgeting and Forecasting (Beginner) test begins by assessing a candidate's understanding of basic budgeting concepts, such as the purpose of budgets, key components, and the budgeting process within an organization. Candidates are expected to know how to prepare a basic budget, considering factors like revenue, expenses, and cash flow.

The test also evaluates the candidate's knowledge of different types of budgets, such as operational, capital, and cash budgets. Candidates will need to understand the specific uses of each type and how they contribute to overall financial planning. Additionally, the test covers basic forecasting techniques, requiring candidates to apply simple methods to project future financial outcomes based on historical data.

Variance analysis is another critical area assessed in this test. Candidates must demonstrate the ability to compare actual results with budgeted figures, identify variances, and understand the implications for financial management. The test concludes with basic financial analysis, where candidates analyze budget data to draw meaningful insights and support organizational decision-making.

This comprehensive assessment ensures that candidates are well-prepared to contribute to the budgeting and forecasting processes in their organizations, enabling effective financial planning and control at a foundational level.