PARTICIPANT HANDBOOK
ILM CERTIFICATE IN LEADERSHIP & MANAGEMENT LEVEL 5 (INSTITUTE OF
LEADERSHIP AND MANAGEMENT)
UNDERSTANDING FINANCIAL MANAGEMENT
INTRODUCTION
Welcome to Understanding the management role, unit 1 of the ILM Certificate in Leadership &
Management, specifically designed for and by Loughborough University.
Aim of the programme
The aim of this unit is to provide you with an understanding of the basic finance terminology used in
accounting and also at Loughborough University. The unit is run in conjunction with the finance team
and is specifically designed to help you to understand more about Finance at Loughborough. This unit
is also followed up by Making a Financial Case, which will help you to understand how a financial
case is put together here at Loughborough.
Entry requirements
There are no formal entry requirements for this programme. However, to benefit from this course it
would be advantageous to have an opportunity to put the new learning into practice. No prior
management qualifications are necessary, or prior educational qualifications. In order to achieve the
full qualification you will need to attend all units of the programme as well as all work based
assignments and online learning.
Student support
Loughborough University is an accredited centre for ILM and is committed to inclusion and we can
provide a range of support for learners with disabilities and/or learning difficulties. If you feel you may
require support on your programme then please contact our advisers team directly (please see
candidate handbook for further details).
Attendance
The achievement of the Certificate is dependent upon attendance at ALL of the units (workshops) as
well as all identified on line study. These learning hours are a specific requirement of the ILM process.
A key aspect of any team leader or manager is their management of themselves, their workload and
their time. The achievement of this Certificate should reflect their ability to attend all of the courses
they have committed to as well as completion of the assessment in the required timescale.
ASSIGNMENT INFORMATION
You must include
your name, course and assignment title in the file name. Please also ensure your work
is submitted as one document and it must have a submission sheet as the front cover. We are
All submitted assignments must be emailed to ilm@lboro.ac.uk by the dates given.
unable to accept assignments without this front cover and we will ask you to resubmit if it is not included.
Please note you do not need to include your learner registration number on this sheet. If you require
confirmation of receipt of your emailed submission then please request this from the “Options” tab in
Outlook.
Guidelines on submitting as one complete PDF document:
1.
2.
3.
4.
5.
When saving your word document, save it as a PDF file
Open adobe
In left hand corner – select the ‘create PDF’ button
From drop down menu – choose “combine files into a single PDF”
A new window will open (let’s call this X) – in the top left hand corner is an ‘add files’ button. Click
and choose how you want to find your files (e.g. ‘add files’ will open windows explorer, ‘open files’
just looks at ones you have open)
6. Once all your files are listed in screen X – click combine. It will open a new PDF which you can
then save as the appropriate file name.
If you are unable to send your assignments through by email then you can submit a hard copy (but we
must also have a copy on CD or memory stick) by visiting the Staff Development department in
Rutland Building.
Assessment – Understanding Financial Management
Remember that these notes are for guidance only
The assignment includes the Assessment Criteria, showing you exactly how you will be assessed,
and a Mark Sheet to show how the marks are allocated. Read the assignment carefully and study the
Assessment Criteria with even more care. It is a good idea to go through the assignments after you
have completed them and mark them yourself, using those same criteria. Ask yourself “Have I done
what it asks me to do?” “What mark would I give it?”
Assessment activities are divided into parts. You must use the headings (in bold) of each part to
structure your assignment, because marks are allocated according to how well you deal with each of
them – if the assessor doesn’t know which part you are answering, you won’t get the marks.
Remember, the assessor is not trying to trick you – what it asks for is what it expects. If you have a
problem, ask your tutor for help.
You should present your work as simply and clearly as possible. Whilst word-processed
assessments are preferred, you will not lose marks for presenting a hand-written assessment so long
as it is neat and legible. Please do not present your work in elaborate folders – simple stapled pages
are all that is required.
As a Manager communication skills are very important. So, too, it is important that you write
clearly when your present your work for assessment. You may lose marks for poor grammar and
spelling.
ILM is keen to ensure fair and equal assessment for all candidates: so if you have any special
difficulties which you think might put you at a disadvantage do not hesitate to let your tutor know.
What constitutes plagiarism?
If you submit an assignment that contains work that is not your own, without indicating this to the
marker (acknowledging your sources), you are committing ‘plagiarism’ and this is an offence. This
might occur in an assignment when:


Using a choice phrase or sentence that you have come across and copying it word-for-word
directly from a text.
Paraphrasing the words from a text very closely.




Using text downloaded from the internet, or copied directly from a book or other source.
Borrowing statistics or assembled facts from another person or source.
Copying or downloading figures, photographs, pictures or diagrams without acknowledging
your sources.
Copying from the notes or essays of a fellow student.
Although you are encouraged to show the results of your reading by referring to and quoting from
works on your subject, copying from such sources without acknowledgement is deemed to be
plagiarism and will not be accepted by Staff Development.
For further information on how to reference your sources of information, please either discuss this
with your tutor, or see the University Library’s guidance sheet to referencing:
http://www.lboro.ac.uk/services/library/skills/advice/
WORK BASED REVIEW
ASSIGNMENT TASK for Unit - Understanding financial management
Centre Number
Centre Name
Learner Registration No
Learner Name
TASK
The purpose of this unit is to develop understanding of finance within the context of an organisation, as
required by a practising or potential middle manager.
NOTE
An ILM Assessment Task provides an opportunity to relate your learning directly to your current
organisation. It is recommended that you discuss the assignment with your line manager to explore and
agree how the task could be used to support the needs of your employer (as well as evidencing your
learning as part of completing your ILM qualification).
If you are not currently working within an organisation, then you may complete this task in relation to an
organisation with which you are familiar. This could include experience working in a voluntary capacity.
NOTE:
You should plan to spend approximately 18 hours researching your workplace context, preparing for and
writing or presenting the outcomes of this assignment for assessment.
Please use the headings shown below when writing up your
assignment
Assessment Criteria
Understand finance within the context of an organisation

The first part of this task is to describe the principal features of
the organisation’s sources of finance or funding, and then to
analyse the organisation’s financial stakeholders in order to
provide an explanation of their various expectations of the
organisation.
An account of the practices of both cash flow forecasting and
cash flow management must then be provided to explain why
they are both important, and you are then required to use
appropriate financial measures to provide a general
assessment of business/organisational performance.
Understand the value of recording financial management
information
The second part of the task requires an explanation of how a
range of financial performance indicators are used to monitor
the achievement of objectives.
You are then required to explain the purposes of the main
financial documents used within the organisation.
Understand budgets for the management of own area of
operation





Describe the organisation’s sources of
finance or funding (8 marks)
Analyse the range of financial
stakeholders and explain their various
expectations of the organisation (16
marks)
Explain the importance of cash flow
forecasting and cash flow management
to the organisation (12 marks)
Provide a general assessment of
business/organisational performance
using appropriate financial measures
(16 marks)
Explain the role of financial
performance indicators in monitoring
the achievement of objectives (12
marks)
Explain the purposes of the main
financial documents used within the
organisation (12 marks)
 Explain the process of budget setting
used in the organisation (12 marks)
The final part of the task requires you to explain the process of
budget setting in the organisation and how budgetary
techniques are used to contribute to controlling cost in own
area of operation.
By submitting I confirm that this assessment is my own work
 Explain how to use budgetary
techniques to contribute to controlling
cost in own area of operation (12
marks)
Resubmission
If your assignment is graded as “Refer”, you will receive feedback and are able to revise your work
and resubmit it for a secondary opportunity to pass.
You are advised to discuss your task with your assignment with your line manager.
You should use your own workplace as the basis for this assignment, but you may use another
organisation if you have experience elsewhere that is relevant.
To produce a better assignment and to show your wider understanding of the management role you
should provide more detail in your answer. Explanation with supporting examples from your own
experience will provide further evidence of your understanding.