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The aim of this unit is to meet the needs of middle and senior managers in health and social care who wish to develop their competences in managing finance.
The unit examines aspects of finance including budgetary control, the concept of ‘unit cost’, ‘value for money’ approaches, capital project planning, and the sources of finance and their application.
1. Understand how to analyse financial data in health and social care scenarios
2. Understand how to make informed financial judgements based on accounting analysis
3. Know how to prepare a proposal for expenditure on a health or social care project.
Q1 – As a Manager, you need to examine key sources of finance and expenditure from financial statements and management accounts; analyse financial data in an organizational context; investigate potential sources and allocations of funding within the health and social care services; and systematically analyse Budget Forecast & Review statements (1.1; 1.2; 1.3 & 1.4).
Q2 – As a Manager, you need to identify and apply appropriate accounting analysis techniques to given situations; systematically analyse data to execute rational financial decision making; and review budget forecasts from financial data (2.1; 2.2 & 2.3).
Q3 – As a Manager, you need to systematically analyse budget forecasts with reference to organizational performance; systematically analyse financial data from various investment options for the selection of optimum financial return, within the organizational context; and critically evaluate the various methods of capital investment appraisal (2.4; 2.5 & 2.6).
Q4 – As a Manager, you need to justify the significance of a proposal in relation to organizational strategy; investigate the limitations of alternative models for evaluating expenditure; examine key issues in the management of change; and develop a health or social care project plan incorporating 1. Expenditures and benefits, 2. Milestones, 3. Budgets, 4. Responsibilities and 5. Timescales, management monitoring and control (3.1, 3.2, 3.3 & 3.4).
Students are assessed against the learning outcomes of the unit utilizing a range of assessment tools and methods.
You need to pass each question of the assessment before you can pass the whole unit of the course.
You must use Harvard Systems of references i.e. alphabetical order.
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