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ICB Level 3 Diploma in Costing and Budgeting

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This is a valuable addition to the ICB Level 3 Diploma range and we are delighted to offer this with our fully tutor supported platform, ensuring comprehensive exam preparation and swift completion. 

The ICB do not offer this as a standalone qualification and students must have, or plan to have their Level 3 qualifications (or have been provided with exemption) before attempting this course and examination. Upon completion you will possess an understanding of a business' planning, budgeting and control processes and helping with the decision making within a business, including within a manufacturing environment. Covering the basics of Management Accounting, this course is a prerequisite for the ICB Level 4 Diploma in Management Accounting.

Entry Requirements: ICB Level 3 bookkeeping & accounting Qualifications or exemptions with prior qualifications or experience.

Ideal Schools will provide::

  • All Study Materials provided in a presentation folder
  • 1 year tutorial support via phone, email & 24/7 support via private Facebook groups
  • Continuous Self Progress tests & Answers
  • 5 x tutor marked assignments
  • ALL available Online Practice Papers (ICB Rogo - exam standard)
  • Exam Pass Guarantee
  • Continued Career support
  • Additional CPD Service Certification

Associated Exams: 
Exam Structure:  1 x home based examination with 24hr completion period
Study Time:  Approx 40-50 hours

CPD Status (for those holding Level 3 ICB qualifications or higher): 30 hours structured & unstructured, meeting ICB annual suggested target

Exam fees: Exam fees for this course option are £60.00 and include our ‘college discount’. When it comes to paying for your exams you have two options:

  1. During online registration, select to switch to the option that incorporates the exam fees. With this option, your exam fees are either added to your full payment or spread evenly throughout your interest free payment term.
  2. Pay as you go: As you complete each section of study you'll be instructed to book your exams. If you have not pre-paid these you'd simply contact our admin team to pay and we'll then place your exam order. 

 The choice is yours!!

Course Contents:

Underpinning Knowledge:
Distinguish between Financial Accounting and Management Accounting as information systems;
Identify and classify cost by: element, function and nature (behaviour);
Understand the importance of identifying and reporting relevant information.

Accounting for Labour, materials and overheads:
Understand the importance of stock (inventory) control and its valuation;
Determine labour cost;
Determine material costs;
Understand the process of Allocation, Apportionment and Absorption (Recovery) of Overhead.

Costing systems:
Identify the characteristics of various costing systems;
Calculate the cost of a job, process or service.

Break even analysis:
Understand the principle of Marginal Costing as an aid to decision making.

Introduction to Budgets and budgetary control:
Prepare a budget for: Income, Labour, Material and Overhead;
Prepare a Cash Budget;
Compare budget to actual performance and analyse the variances for income and the elements of cost.

Course Details

Course Number: CB100     
Course Fee: £245.00
You can pay the full price or pay a deposit of £95.00 (0% APR), followed by 3 monthly payments of £50.00
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Course Details
Course Number: CB100    
Course Fee: £245.00
You can pay the full price or pay a deposit of £95.00 (0% APR), followed by 3 monthly payments of £50.00
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