NOTE – THIS COURSE IS DELIVERED IN PARTNERSHIP WITH AN IML APPROVED CENTRE
Working to a budget:
Explain the importance of agreeing to a budget and operating within it;
Describe the process by which a budget is agreed in an organisation;
Explain the process of gathering information to be used for the determination and/or revision of budgets; and
Describe a method to monitor variance between actual and budgeted performance
Understanding costs in the organisation:
Explain fixed and variable costs in relation to the organisation;
Explain the concept of break even in relation to the organisation;
Explain the purpose and nature of basic cost statements;
Explain the value of standard costing and its role as a control mechanism; and
Describe mechanisms in the organisation to maintain control of costs
The Guided Learning Hours (GLH) for this course are 7 hours
In addition participants need to complete a written assignment which is marked by Griffin College Limited, who provide tutorial support by way of guidance on completing the assignment, including providing a sample assignment.
The Institute of Leadership and Management (ILM ) operates an ‘Open Entry’ policy but prospective participants should be able to apply what they learn on the course in an organisational setting (need not be in a job).
Participants receive the City&Guilds/ILM Unit Certificate in ‘Understanding costs and budgets in an organisation’ on completion of a written assignment to the required standard.
ILM is part of City & Guilds and certifies over 90,000 courses each year internationally.
Griffin College was founded in 1991 and operates throughout the United Kingdom and Ireland, as well as internationally through online course delivery.