Level 4 Understanding Financial Management
Issued by
ILM
This qualification is for those who are interested in understanding the financial processes that support effective budgetary management. Suitable for practising or potential middle managers, this qualification helps to develop the skills of putting financial management concepts into workplace practice. (Ofqual Qualification Number: D/503/9651 and ILM Qualification Number 8607-407)
Additional DetailsSkills
Earning Criteria
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This person understands finance within the context of an organisation. This person understands the organisation’s sources of finance or funding. They can analyse the range of financial stakeholders and explain their various expectations of the organisation. They understand the importance of cash flow forecasting and cash flow management.
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This person understands the role of financial performance indicators in monitoring the achievement of objectives and the main financial documents used within the organisation. They understand the process of budget setting used in the organisation. They can use budgetary techniques to contribute to controlling costs.