Managing Financial Resources in Health and Social Care - Essay Example

Only on StudentShare

Extract of sample
Managing Financial Resources in Health and Social Care

Be very precise and detailed on the demands you want from each stakeholder, link stakeholders’ interest with your aims, and prioritize. In the BUPA report, they work with the government and other organization to aid in aligning the agenda and long-term policies. BUPA Company should involve all the stakeholders for the proper costing to be enhanced. (Baker 2007,pg.125).   The principle of consistency This principle needs the following of a similar procedure and in case of any change then an explanation to the effect is therefore ideal. BUPA Care Homes should ensure that the auditors follow similar steps in the preparation of the financial statements, without this, any change might make correct interpretation of the financial data impossible (Haldane 2011, pg 134). Principle of Transparency This principle states that for effective costing, it requires openness and honesty visibility in all transactions, ensuring that all information on procurement procedures, opportunities, and processes are well outline and publicized. In BUPA Care Homes, transparency is seen when the Directors read out the annual reports and the audited financial statements (Higgins 2004, pg 118). The materiality concept An item is considered material it affects the decision making process of the users. This is the case when the material is not stated correctly or it is omitted. ...Show more


ESSAY: FINANCIAL RESOURCE MANAGEMENT OF BUPA CARE HOMES By Name: Course: Tutor: Institution: Date: Introduction This paper delves on outlining and analyzing the how to manage the financial resources in the health and the social welfare. In this paper, BUPA Care Homes is our case study…
Author : rwilliamson
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Managing Financial Resources in Health and Social Care"
with a personal 20% discount.
Grab the best paper

Related Essays

Managing financial resources and decisions.
The most important element for any business is the availability of the funds and finance. Almost all organisations make sure that they have the required funds in order to run the operations of the business in effective and efficient manner. Main issue in the starting of any business or organisation is to search for appropriate source of finance in order to make sure that the start-up funds are available (Johnson, & Scholes 2001).
12 pages (3000 words) Essay
Financial Management in Health Care
This element of management aims at determining the objectives of businesses in maximizing profits. Essentially this element involves utilization of financial resources within an organization. Financial management plays an essential role in making investment decisions within profit-making organizations.
4 pages (1000 words) Essay
Financial Management in Health Care / Health Care Budget
To achieve this they must follow the laid down guidelines and practices in financial management. A review of the 2010 budget projection is completed and analysed in regards to the suggestion put forth. Effective financial management practices for Patton-Fuller Community Hospital Annual budgeting One of the commendable financial management practices is annual budgeting that can be seen through the trend in the Hospitals annual budgets from 2007.
3 pages (750 words) Assignment
Managing Financial Resources and Decision
2. Analysis 2.1 Task 1 - The business . 1 Describe the type of business and its ownership. This should include: The business's name, the form of business organization (Sole trader, partnership or limited company) The business will be named as ABC Company and the same would be limited company as the same would be better than sole trader and partnership because of the limited liability of the owners as an overwhelming advantages as against the first two Limited liability, as name of suggests, would involve less risks for owners compared to sole trader and partnership.
9 pages (2250 words) Essay
Management acounting
Sales price variance = (15.0 – 14.5) ? 2,100 =?1,050.0 (A) W4. Material M3 price variance = (1.55 ?1,050) – 1,680 =?52.5 (A) W5. Material M3 usage variance = ((2,100 ?0.6) – 1,050) ? 1.55 =?325.5 (F) W6. Material M7 price variance = (1.75 ?1,470) – 2,793 = ?
4 pages (1000 words) Essay
Corporate Social Responsibility in Financial Services
The financial services area comprises of the economic services provided by the financial institutions in the society for managing the funds of the public for their investments considering the short term and long term gains.
20 pages (5000 words) Dissertation
Managing Financial Resources and Decisions
Tesco PLC. Tesco offers a wide variety of food products, non-food products and also clothing through its 2,318 stores, with 326,000 employees around the European, American and Asian markets. The company provides its customers with financial services too (Datamonitor, 2004).
3 pages (750 words) Assignment
Managing Financial Resources on Tesco and Sainsbury
There are basically two main format of Sainsbury, one is Sainsbury’s convenience stores and other is Sainsbury’s supermarket. The company uses large self-service food stores in the United Kingdom about fifty years ago.
6 pages (1500 words) Essay
Accounting coursework
Consequently, Mr. William efficiently did the same job within a favourably shorter time period (Chapman, 2011). Another example occurs when one task uses the lowest expense amount. Effectiveness indicates the successful
6 pages (1500 words) Coursework
Stock market competition
ndex, companies must have been listed on the Toronto Stocks Exchange for at least twelve months and must meet certain size and liquidity requirements. The value, volume, and number of transactions taken together must be at least 0.025% of the same sum done for all the companies
8 pages (2000 words) Assignment
Find out how much would it cost
to get a custom paper written by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email