Finance and Accounting Managing Financial Resources in Health and Social Care 1 Assignment Front Sheet Qualification Unit Number and Title Pearson BTEC Level 4 HND Diploma in Business UNIT 14: Managing Financial Resources in Health and Social Care Student Name Student No. Assessor name PATRICK YAN Date of Issue Completion date Submitted on 18/0 4 /2014 Assignment title Learning Outcome Learning outcome Assessment criteria In this assessment you will have the opportunity to present evidence that shows you are able to Task No. Evidence (Page no) LO1 Understand how systems are used to manage f inancial resources in health and social care 1.1 explain the principles of costing and business control systems 1.4 1.2 identify information needed to manage financial resources 1.2, 1.1 1.3 explain the regulatory requirements for managing financial resources 1.5 1.4 evaluate systems for managing financial resources in a health or care organisation 1.4 , 1.5 LO2 Understand the role of planning in the management of health and social care budgets 2.1 discuss the diverse sources of income that may be encountered in health and social care 2.1 2.2 analyse the factors that may influence the availability of financial resources in health and social care organisations 2.2 2 2.3 review different types of budget expenditure in health and social care organisations 1 . 3 2.4 evaluate how decisions about expenditure are made within a health or social care organisation 2.3 LO3 Understand the importance of monitoring budget expenditure in health and social care organisations 3.1 explain how financial shortfalls can be managed 3.1 3.2 explain the actions to be taken in the event of suspected fraud 3.2 3.3 evaluate budget monitoring arrangements in a health or social care organisation 3.3 LO4 Understand how systems and processes for managing financial resources influence health and social care services. 4.1 identify information required to make financial decisions relating to a health and social care service 4.1 4.2 analyse the relationship between a health and social care service delivered, costs and expenditure 4.2 4.3 evaluate how financial considerations impact upon an individual using the health and social care service 4.3 4.4 suggest ways to improve the health and social care service through changes to financial systems and processes. 4.4 Learner declaration I certify that the work submitted for this assignment is my own and research sources are fully acknowledged. Student Signature: Date: 3 In addition to the above PASS criteria, this assignment gives you the opportunity to submit evidence in order to achieve the following MERIT and DISTINCTION grades. Grade Descriptor Indicative characteristic/s Contextualisation M1 Indentify and apply strategies to find appropriate solutions Complex problems with more than one variable have been explore (Task s 1.2 ,1.3, 2.1, 2.2 & 4.3 ) To Achieve M1 learner s need to show in – depth knowledge and understanding of the concepts (For example practical application of Zero Based Budgeting) M2 Select/Design and apply app ropriate methods/techniques Range of methods and techniques have been applied (Tasks 1.1 & 4.2) To Achieve M2 Learner s need to provide appropriate accurate computations for 1.1 and for 4.2 vertical trend analysis at least 3 appropriate ratios. M3 Present and communicate appropriate findings The communication is appropriate for familiar and unfamiliar audiences and appropriate media have been used. Task 3 and Task 4 M3 Appropriate Report format to the relevant audience need to be use. D1 Use critical refl ection to evaluate own work and justify valid conclusions C onclusions have been arrived at through synthesis of ideas and have been justified (Tasks 1.5, 2.3, 3.3 and 4.3) D1 Breath and depth of knowledge. Justifications required being practical within t he context of the scenario. D2 Take responsibility for managing and organising activities D3 Demonstrate convergent/lateral and creative thinking Problems have been solved (tasks 2.3 and 3.3) D3 Learner s need to provide practical solutions which could be applied within the scenario.