Course Content:
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
Duration:
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.
Entry:
Barony 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).
Certification:
Participants receive the ABSD Awards Level 6 Unit Certificate in ‘Costs and budgets’ on completion of a written assignment to the required standard.
ABSD – Awarding Body for Sustainable Development:
This is new UK-based international awarding body providing qualifications from Level 5 (IRL) to Level 9 (IRL) centred on sustainable development.
Barony Training is an Approved ABSD Centre.