FIN5003 Financial Control and Budgeting Costing and Planning Strategy

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FIN5003 Financial Control and Budgeting

Task:

Learning Outcomes:

1. Explore and evaluate the legal, financial, regulatory and structural environment under which health and social care services are provided.

2. Understand and explain the importance of governance and accountability and the manner in which financial aspects of health and social care services are managed and communicated to a range of stakeholders.

3. Produce, present and communicate budgets and product and service costs and make decisions based on sound financial and management accounting theory and practice.

4. Reflect on and demonstrate awareness of, the impact of financial constraints, costs and budgets on health and social care service managers, their clients and other stakeholders.

Discipline Expertise

Knowledge and understanding of chosen field. Possess a range of skills to operate within this sector, have a keen awareness of current developments in working practice being well positioned to respond to change. Your assignment should include: a title page containing your student number, the module name, the submission deadline and a word count; the appendices if relevant; and a reference list in Arden University (AU) Harvard format. You should address all the elements of the assignment task listed below. Please note that tutors will use the

assessment criteria set out below in assessing your work.

Question: 1

(a) Critically analyse the legal, financial and regulatory environment of health and social care.

(b) Critically evaluate the use of alternative funding options such as Private Finance Initiatives (PFI), agency partnerships, competitive tendering

and outsourcing in the health and social care sector.

(c) Discuss agency theory in the context of the NHS. Explain the importance of and ways of communicating with stakeholders in the

context of budgeting.

Question: 2

(a) Critically discuss the impact of financial constraints, costs and budgets on health and social care service managers, their clients and other

stakeholders.

 

(b) Explain the particular challenges of budgeting in public sector organisations

(c) Critically discuss the advantages and disadvantages of incremental and zero-based budgeting. 

FIN5003 Financial Control and Budgeting

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