offer
offer

Get Upto

55% OFF

-Coupon Code-

NEW25

offer
offer

Use Our Seasonal Offers!

Claim Now

4500+ Experts Writer

I am a certified academic writer of Artificial Intelligence, and working with Global Assignment Help Australia to provide academic writing assistance to the students. I have been successful in delivering numerous high-quality research papers, assignments, reports, and term papers to the college students on various topics. Also, my professional experience helps me to keep myself updated of the new researches in this field. The students can approach me for taking writing assistance on any topic related to this area.

Tilly Johns

Tilly Johns

Orders in Progress - 26

Orders Finished - 1477

Hire Now

After completing my post-graduation, I worked as a research consultant at an NGO for two years. It is due to the practical knowledge I gained there that I am able to deal with assignment questions on any topic related to this subject. During my tenure as an academic writer, I have explored and covered many disciplines of this subject in order to bring out unique ideas for the assignments. The documents delivered from my end not just help students score well but also serve as a quality reference material for the topic.

Xavier Scott

Xavier Scott

Orders in Progress - 12

Orders Finished - 1321

Hire Now

I hold a post graduation degree in Hospitality Management and have ample experience in the desired field. I have successfully given writing assistance on assignments, dissertations, theses, research papers, presentations and many more on topics related to Hospitality management such as Hospitality Management, Resort Management and Spa Management, Restaurant Management, Travel and Tourism Management, Accounting and Book keeping, Business Economics, Business Finance, Business Management and Operations, Business Marketing and many more. I am also adept at the college and university guidelines for the citation and referencing styles and thus offer the best academic help to the students.

Sarah Blackwood

Sarah Blackwood

Orders in Progress - 23

Orders Finished - 2343

Hire Now

I have served as an academic writer in Brand Management and Marketing for more than six years. Over time, at Global Assignment Help Australia, I have managed to recognise and work upon the academic writing problems faced by the students in this particular subject. I can assist the students in writing academic papers ranging from dissertations, theses, coursework, essays, case studies and assignments related to various topics in this area. Moreover, I have covered topics such as Strategic Brand Management, Branding Design, Buying Behaviour, Integrated Marketing Communication, Global Marketing Management, Market Research and Data Analysis, Consumer Behaviour, Marketing strategy, Business Communication, Financial Management, Brand Management, Management of Change, and a plethora of others. If you need any assistance in this subject, then you can consult me for the guidance.

Karin Novak

Karin Novak

Orders in Progress - 12

Orders Finished - 2241

Hire Now

Affordable Prices

Top Grades at Cheap Rates!

    Prices Starts From
    USD 7.19
    Offer Discount 25 % Off
    USD7.19

    Get upto 51% OFF on Your First Order !

    Prices Starts From

    USD 7.19

    Amazing Features We Offer

    24*7 Help Service

    100% Satisfaction

    No Privacy Infringement

    Super-fast Services

    Subject Experts

    Professional Documents

    Managing Financial Resources

    INTRODUCTION

    Productive management of financial resources has gained significant concern in health and social care entities after the amendment of The Health and social Act 2012. The act specified that the health practitioner and social care manager have to be more innovative, productive and accountable related to quality, safety and patient experience while delivering the NHS, Adult social care and Public health services. This report was made to construct the deep understanding about planning and management of financial resources need to be done in the social and health care and for this purpose CareTech Holding Plc, a leading Social care services provider of UK was taken. The report will explain how monitoring and controlling of financial resources and decisions can be done in health and social care.

    TASK 1

    1.1 Principles of costing and business control systems

    NHS has approved six best costing principles which can be implemented in health and social care like CareTech Holding Plc. These principles are

    Stakeholder Engagement

    According to this principle, CareTech Holding Plc can estimates its cost by including cost related to non-finance department. The cost which are considers in non-finance department are related to clinical staff and non- clinical staff.

    Consistency

    This principle states the entity should adopt consistent approach in its all departments and unit for measurement of cost.

    Data Accuracy

    This principle states the entity like CareTech will able to compute right cost when the different data are properly recorded. To make this possible, the entity should maintain a proper recording system related to journal entries, ledgers accounts, trial balance, staying period of patient, time spent by clinical staff and other to make appropriate decisions.

    Materiality

    It states the entity should accurately record the cost related to material procurement and other activities for the right calculation of cost.

    Causality and Objectivity

    This principle entails the costing should be based on an understanding of causality to minimize its subjectivity. It means analysis of causality should be done before measuring the cost as it will help in reduction of causality.

    Transparency

    This principle expresses that the costing of health and social care like CareTech should be transparent and easily auditable.

    CareTech Holding Plc can use underneath methods for controlling of cost-

    Cost Centered Approach

    In this, the manager of CareTech will give emphasis to keep the cost within the expenditure budget. It is because if the cost will increase then it will wipe out profits of the business.

    Per Patient cost computation

    The entity will able to set the fee of patients after valuation of cost per patient. It will be computed by dividing all variable and fixed cost incurred over a period of time by number of patients appointed in the organization.

    1.2 Information needed to manage financial resource for CareTech Holding PLC

    In social and health care, a entity requires financial resources to make payment to staffs, procurement of materials, equipments, medicines, beds and others. They can meet this requirement by careful planning of its revenue sources. A health and social care receives revenue in terms of fee which it receives from patients. CareTech will manage its financial resources in the best manner when the entity is practicing transparent and accurate accounting method for the measurement of cost.

    Further, the efficient management of financial resources will be possible by implementation of effective management of risk will be done by identification and assessment of possible risk. In health and social care risk can be seen related to negligence of staff, death of patient due to failure of operation etc. In addition to this, preparation of budgets and auditing of reports related to procurement expenditure, administrative expenditure, financial cost, marketing expenditure, renovation of building cost and legal cost will also assist in management of financial resources in CareTech.

    More Suggestions:

    1.3 Regulatory requirements need to be satisfied while managing financial resources

    In health and social care, due diligence is must required for the safety of patients. There are various authorities or regulators who make rules and regulations for health and social care.. Following are the regulators who specified regulatory requirements for health and social care-

    Care Quality Commission

    It inspects whether the health and social care entities are meeting national standards or not. On the basis of this inspection, they issue their findings to aware people about the degree of services provided by the particular entity. This helps people to make better choices for selecting appropriate health and so

    Amazing Discount

    UPTO55% OFF

    Subscribe now for More Exciting Offers + Freebies

    Download Full Sample

    Cite This Work

    To export references to this Sample, select the desired referencing style below:

    Students sometimes cannot express their inability to work on assignments and wonder, "Who will do my assignment?" To help them understand the complexities of writing, we are providing "samples" on various subjects. Also, we have experienced assignment writers who can provide the best and affordable assignment writing services, essay writing services, dissertation writing services, and so on. Thus, don't wait any longer! Place your order now to take advantage of discounted deals and offers.

    Limited Time Offer

    Exclusive Library Membership + FREE Wallet Balance