HEALTH AND SOCIAL CARE MANAGEMENT

Topics: Costs, Cost, Variable cost Pages: 9 (1906 words) Published: June 12, 2014


SCHOOL OF HEALTH AND SOCIAL CARE
HND – HEALTH & SOCIAL CARE MANAGEMENT

GROUP: XXX
MANAGING FINANCIAL RESOURCES

REPORT ON CARE TECH HOLDINGS PLC, FOR THE YEAR ENDED 2013

STUDENT NAME
STUDENT ID

Lecturer: Theresia Vughosu

CONTENT

INTRODCUTION……………………………………………………………………………………………

TASK 1: SYSTEMS USED TO MANAGE FINANCIAL RESOURCES IN CARE TECH 1.1 Principles of costing and business control systems………………………………………………….. 1.2 Information needed to manage financial resources………………………………………………….. 1.3 Regulatory requirements………………………………………………………………………………... 1.4 Systems for managing financial resources…………………………………………………………….

TASK 2: ROLE OF PLANNING IN THE MANAGEMENT OF CARE TECH BUDGET 2.1 Diverse sources of income……………………………………………………………………………… 2.2 Factors that may influence the availability of financial resources…………………………………... 2.3 Types of budget expenditure…………………………………………………………………………… 2.4 Decisions about expenditure…………………………………………………………………………….

TASK 3: IMPORTANCE OF MONITORING BUDGET EXPENDITURE IN CARE TECH 3.1 Managing financial shortfalls……………………………………………………………………………. 3.2 Financial fraud actions…………………………………………………………………………………... 3.3 Budget monitoring arrangements……………………………………………………………………….

TASK 4: INFLUENCE OF SYSTEMS AND PROCESSES ON CARE TECH SERVICES 4.1 Information required in making financial decisions…………………………………………………… 4.2 Relationship between care service delivered and ‘costs and expenditure’………………………... 4.3 Impact of financial considerations on a service user………………………………………………… 4.4 Improving care services through changes in financial systems and processes…………………...

CONCLUSION………………………………………………………………………………………………...

REFERENCES………………………………………………………………………………………………..

INTRODUCTION
This essay the author will be able to evaluate current systems for managing finances Resources in health and social care settings. Therefore will evaluate how financial Decisions are made and the need to monitor budgets. This will then enable the author to Evaluate the impact of financial considerations on an individual using health and Social care services.

Furthermore will provide a core understanding of the range of systems available, and How these are used in the planning and financial management of health and social Care budgets. The unit further will encourage understanding the importance of Monitoring budget expenditure and its influence on the provision of health and social Care services.

LO.1
1.1PRINCIPLE OF COSTING AND BUSINES CONTROL SYTEMS
Analysis of current situation against budget and forecast, classification and coding, job costing, Contract costing, actual cost ascertainment,allocation/apportionment

COSTING DEFINITION:
Costing it describe as According official terminology the technique and procedure of ascertaining cost. These valuation systems including main beliefs and system to determine the cost of goods or services. It also the quantity of supply used in replacement of goods or services. The income used can be financed or money’s value, Semi Variable

Semi Fixed Cost
Cost: Cost is an amount that has to be paid or given up in order to get something Cost Unit: The unit cost is the cost incurred by a company to produce, store and sell one unit of a particular product. Unit costs include all fixed costs and all variable costs A cost center is part of an organization that does not produce direct profit and adds to the cost of Running a company. Examples of cost centers include Cost object: Cost object is often a product or department for which cost is accumulated or measured. For example, a product is the cost object for direct materials, direct labor and manufacturing overhead also the factory maintenance department is cost object for the cost of the maintenance employees and the maintenance supplies. Cost benefit analysis: Is A cost object is a tangible input for a product...
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