MANAGING FINANCE IN HEALTH AND SOCIAL CARE

Unit Aims

This unit aims to introduce the learner to key concepts and tools for accounting and finance in health and social care contexts. Consideration will be given to the knowledge and understanding required to interpret and make use of financial information that is relevant to the management of health and social care.

Learning Outcomes

1. Understand the tools and techniques of cost accounting for health and social care

1.1 Critically analyse the concepts, features and importance of costs and accounting in making decisions in health and social care

1.2 Apply tools of costing design and costing systems to a health and social care organisations

1.3 Recommend improvements to the costing and pricing systems of health and social care organisations

2. Understand the financial performance of health and social care organisations

2.1 Critically analyse financial statements to assess the financial position of health and social care organisations

2.2 Evaluate financial statements using financial ratios for improved information in decision making in health and social care organisations

2.3 Propose managerial decisions for health and social care organisations based on financial analysis.

3. Understand the budgetary processes of health and social care organisations

3.1 Evaluate budgetary targets for health and social care organisations

3.2 Develop a master budget for a health and social care organisation;

3.3 Critically evaluate budgetary processes in health and social care organisations