ICB Level 3 Diploma in Costing and Budgeting
Make IDEAL Schools your #1 Training Partner
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 Associate Membership
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
Qualifications leading to AICB
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
- 1 x Online Practice Paper (ICB Rogo - exam standard)
- Exam Pass Guarantee
- Continued Career support
Associated Exams: L3CB
Exam Structure: 1 x home based examination with 24hr completion period
Study Time: Approx 40-50 hours
CPD Status (for those holding Associate Membership or higher): 30 hours structured & unstructured, meeting ICB annual suggested target
Exam fees:Exam fees for this course option are £52.00 and include our ‘college discount’. When it comes to paying for your exams you have two options:
- Enrol on your course paying the full fee or initial deposit: during registration you can select to add the cost of your exams. This ensures you have no ongoing costs and guards against future exam fee increases. The full cost of the exams will be added to your preferred initial payment (full fee or deposit).
- 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!!
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.
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.