Managing Finance in the Health and Social Care Sector Assignment Brief
| Qualification | OTHM Level 7 Diploma in Health and Social Care Management (603/6066/5) |
| Unit Reference Number | K/618/2712 |
| Unit Title | Managing Finance in the Health and Social Care Sector |
| Unit Level | 7 |
| Number of Credits | 20 |
| Total Qualification Time (TQT) | 200 hours |
| Guided Learning Hours (GLH) | 100 hours |
| Mandatory / Optional | Mandatory |
| Sector Subject Area (SSA) | 1.3 Health and Social Care |
| Unit Grading Structure | Pass / Fail |
Unit Aims
The aim of this unit is to introduce key financial concepts and tools for managers in health and social care. The unit gives consideration to the knowledge and understanding necessary for making finance informed decisions in health and social care organisations. This unit should be studied within the contexts of local, national and international legal frameworks and good practice relating to finance.
Learning Outcomes and Assessment Criteria
| Learning Outcomes – the learner will: | Assessment Criteria – the learner can: |
| 1. Understand the role of financial information in managing health and social care organisations | 1.1 Explain the importance of accounting and finance management in the context of a health and social care organisation.
1.2 Evaluate how financial software is utilised within the accounting functions of organisations. 1.3 Describe how key financial ratios are used by health and social care organisations. |
| 2. Understand the different sources of finance available for the health and social care organisations | 2.1 Differentiate between long and short term business finance needs of health and social care organisations.
2.2 Explain the benefits and limitations of various sources of finance available to an organisation. 2.3 Evaluate the process of budgetary control and revenue management in a health and social care organisation. |
| 3. Understand how business decisions in health and social care can be informed by financial information | 3.1 Explain the rules of double-entry bookkeeping and how it is used to maintain financial records.
3.2 Interpret organisational budgets in health and social care 3.3 Evaluate capital expenditures and investment projects using different investment appraisal techniques 3.4 Make recommendations for financial management in health and social care organisations |
Assessment
To achieve this unit, learners must achieve the learning outcomes and meet the standards specified by all assessment criteria for the unit.
| Learning Outcomes to be met | Assessment Criteria to be covered | Assessment type | Word count (approx. length) |
| All 1 to 3 | All ACs under LO 1 to 3 | Preparatory Report | 1500 words |
| Report | 1500 words |
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