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MANAGING FINANCE - outcome with content

1: Understand how to analyse financial data in health and social


care scenarios 2
1.1 Examine key sources of finance and expenditure from
financial statements and management
accounts
..
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Financial Accounting versus management accounting;
nature or costs(variable and fixed and semi-variable)
and their behaviour within operational scanarios;
unit costs
1.2 Analyse financial data in an organisational
context..
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Nature and structure of the
- income & expenditure statement,
-Balance sheet
- and cash flow statements.

1.3 Investigate potential sources and allocations of funding


within the health and social care

services

Write on:
Sources of UK cenral & local government funding,
the nature and structure of NHS Funding;
equity;
third sector funding sources.

1.4 Systematically analyse Budget Forecast & Review


statements ..
Write on:
The nature of Budget Forecast & Review Statement,
Key Performance Indicators (KPI)
and its implications.
2: Understand how to make informed financial judgements based
on accounting analysis
2.1 Identify and apply appropriate accounting analysis techniques
to given situations

Write on:
Process comparisons;
cost relevance; break-even analysis;
financial contribution and portfolio analysis;
financial decision-making;

marginal & absorption costing;


revenue versus capital expenditure.
2.2 Systematically analyse data to execute rational financial
decision making
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Calculation,
analysis
and interpretation OF FINANCIAL RATIOS
2.3 Review budget forecasts from financial data
.
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Key stakeholder involvement,
idenfication of available funds,
statutory requirements,
2.4 Systematically analyse budget forecasts with reference to
organisational performance

.
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Incremental budgeting & zero-based concepts,
flexed budget,
forecasting techniques,
behavioural aspects.

2.5 Systematically analyse financial data from various investment


options for the selection of optimum financial return, within the
organisationalcontext.
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Investment Appraisal Techniques

2.6 Critically evaluate the various methods of capital investment


appraisal..
Write on:
Relevant Cash Flows;
payback;
DCF techniques NPV, IRR, ARR
3: Know how to prepare a proposal for expenditure on a health or
social care
project

3.1 Justify the significance of a proposal in relation to


organisational strategy
Write on:
Vision/Mission/PESTLE/SWOT and strategic fit,; project scope
3.2 Investigate the limitations of alternative models for evaluating
expenditure.
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cash flows & impact of financial accounting;
3.3 Examine key issues in the management of
change..

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Management of Change;
3.4 Develop a health or social care project plan incorporating
Expenditures and benefits, milestones, budgets, responsibilities
and timescales, management monitoring & control
Write on:
opportunity costs;
project audit & accountability;
critical path analysis;
project management planning,
monitoring & control;
post project audit

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