Understanding Costs and Budgets in an Organisation – Unit Certificate

Understanding costs and budgets in an organisation - City&Guilds/ILM Unit Certificate.

Content:

Working to budget:

Identify own learning style(s) and the learning style(s) of another member of the team;
Use a simple technique for identifying own development needs and the development needs of another member of the team;
Identify potential barriers to learning; and
Explain how barriers to learning can be overcome

Know how to develop self and others to achieve organisational objectives:

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 course is run either in the evenings or daytime.

Participants spend 2 evenings in class and back this up with experience outside the classroom.

The course can also be taken in the daytime (as agreed).

Entry: 

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).

Certification: 

Participants receive the Griffin College Certificate in Managing Costs and Budgets.

Participants have the option to receive the City&Guilds/ILM Unit Certificate in 'Understanding costs and budgets in an organisation' on completion of a written assignment and payment of the City&Guilds/ILM student registration and certification fees.

ILM is part of City & Guilds and certifies over 90,000 courses each year internationally.

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