01 901 2014

ILM – Understanding Costs and Budgets in an Organisation

Course ID
Start Date
On Demand

ILM Understanding Costs and Budgets in an Organisation

ILM Awards in Leadership and Management are widely recognised qualifications that will prove to employers that you are invested in your self-development as a professional.

This programme comprises a wide range of modules covering core management skills, including how to organise and delegate, skills in communication, team leadership, change, innovation and managing people and relationships.

Join the thousands of other people who enhanced their performance with an ILM qualification, and fast-track your way to the top with our leadership and management qualifications. Ranging from Levels 3 to 5, our qualifications cater to all levels of management and offer a clear route to career progression.

These programmes are available via online learning, allowing you to study flexibly while balancing work and personal lifes.

Each course can be purchased separately.

Subjects Duration Delivery Awarding Body
1 7 + Hours Online ILM

To develop knowledge and understanding of costs and budgets in an organisation as required by a practising or potential first line manager.

On completion of this module learners will:

  • Understand budgets within an organisation.
    • 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 determining/revising budgets.
    • Describe a method to monitor variance between actual and budgeted performance.
  • Understand costs within an 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.
  • Describe mechanisms in the organisation to maintain control of costs


  • You wish to upskill in a specific area where you feel that you lack at present.
  • You have a strong interest in upskilling in specific areas.
  • Modern web browser, 5MB broadband essential, Word processing programme (Word, Libreoffice), PDF reader. PC or notebook for best experience


  • Expert tutor support from our qualified business team
  • Video tutorials and course notes covering the entire syllabus
  • Completed past exam questions
  • Webinars and podcasts
  • 95% success rate on first assignment attempt
  • Unlimited 6 Month Access
  • Webinars and Podcasts


Please note that there is a once off ILM registration fee of €150 for all new learners.


Each module is assessed by one individual assignment.

Each assignment consists of questions based on the course material and experience in an organisation.

The grades are as follows:

0% – 49% Referral

50% – 74% Pass

75% – 100% Good Pass

Upon submission, all learners receive feedback on their assignment. If a learner receives a referral grade, they will be provided with feedback and allowed to resubmit (at no charge).

Learners may start their assignment at any time, and have 2 weeks to complete.

Various tutors deliver different modules.