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Assignment title |
Assignment: MANAGING FINANCIAL RESOURCES IN HEALTH AND SOCIAL CARE |
Plagiarism mean to commit literacy theft which mean presenting somebody else’s work as your own work. This mean presenting as new and original idea or product derived from existing source in your own name. Hence it is important not to use or copy information directly from the online books or Web without crediting the source or without referencing the materials. It is important for the learner not to copy any materials from other student’s coursework and submit in your name. If similarity is found with other learner’s work or from online materials without proper references/ citations, suspected work/ materials will be investigated in accordance with the procedures set up by the college.
Please see your student handbook of LCUCK for further details on Plagiarism/ collusions.
Coursework Regulations
- 1 After completing the coursework, students need to submit their completed work on e-learning (Moodle) i.e. https://moodle.lcuck.ac.uk/ (Detailed information about this on how to submit is available in the student handbook submission)
- 2 Details of submission procedures and penalty fees can be obtained from Examinations department or the general student handbook.
- 3 Late coursework will be accepted by Examinations department and marked according to the guidelines given in your Student Handbook for current year.
- 4 If you need an extension (even for one day) for a valid reason, you must request one, using a coursework extension request form available from the Examinations department. The completed form must be accompanied by evidence such as a medical certificate or other evidence in the event of your unavoidable circumstances. Note: Lecturers are not responsible for the extensions on the submission date as they are not authorised to do any extension.
- 5 General guidelines for submission of coursework:
- a) All work must be word-processed or in PowerPoint presentation (for the task specified in the assignment brief) and must be of “good” standard.
- b) Document margins shall not be more than 2.5cm or less than 1.5cm
- c) Preferred paragraph spacing before and after should be 12pt.
- d) Preferred line spacing should in the range of single, 1.5 or up to double.
- e) Font size in the range of 11 to 14 points distributed to including headings and body text. Preferred typeface to be of a common standard such as Arial or Times New Roman for the main text and must be either be Left aligned or Justified.
- f) Any graphic files or Pictures that form part of the course work must be submitted online with the word documentation or PPT.
- g) You are advised to have your personal copy for your reference as the copy of your course work submitted may not be returned to you after marking.
Remember to keep evidence of your submitted coursework.
Assignment Brief
Assignment front sheet
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Qualification |
Unit number and title |
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Pearson BTEC Levels 4 and 5 Higher Nationals in Health and Social Care (QCF) |
Unit 14: MANAGING FINANCIAL RESOURCES IN HEALTH AND SOCIAL CARE |
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Student name |
Assessor name |
Internal Verifier |
Head of Quality |
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Date issued: |
Formative/Interim Submission: |
Final Submission: |
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Assignment title
Assignment: MANAGING FINANCIAL RESOURCES IN HEALTH AND SOCIAL CARE
1 1 1 1 2
2
2
2 3 3
4 4
4 4
Learning Outcome
LO2: Understand the role of
planning in the management
of health and social care
budgets
Assessment Criteria
In this assessment you will have the opportunity to present evidence that shows you are able to:
Evaluate systems for managing financial resources in a health or care organisation
Task no.
Evidence (Page no)
LO1: Understand how systems are
used to manage financial
resources in health and
social care
1.1
Explain the principles of costing and business control systems
1.2
Identify information needed to manage financial resources
1.3
Explain the regulatory requirements for managing financial resources
1.4
2.1
Discuss the diverse sources of income that may be encountered in health and social care
2.2
Analyse the factors that may influence the availability of financial resources in health and social care organisations
2.3
Review different types of budget expenditure in health and social care organisations
2.4
Evaluate how decisions about expenditure are made within a health or social care organisation
LO3: Understand
3.1
Explain how financial shortfalls can be managed
the importance
of monitoring budget
expenditure in health and
social care organisations
3.2
Explain the actions to be taken in the event of suspected fraud
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3 |
3.3
Evaluate budget monitoring arrangements in a health or social care organisation
LO4: Understand how systems
and processes for managing
financial resources
4.1
Identify information required to make financial decisions relating to a health and social care service
4.2
Analyse the relationship between a health and social care service delivered, costs and expenditure
4.3
Evaluate how financial considerations impact upon an individual using the health and social care service
4.4
Suggest ways to improve the health and social care
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influence health and social care services. |
service through changes to financial systems and processes. |
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Learner declaration |
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I certify that the work submitted for this assignment is my own and research sources are fully acknowledged. Student signature: Date: |
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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
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M1 Identify and apply strategies to find appropriate solutions |
Effective judgements have been made An effective approach to study and research has been applied |
To achieve M1: You must demonstrate that you have evaluated budget monitoring arrangements in a health or social care organisation with example and relevant citations (3.3). You must also evaluate how financial considerations impact upon an individual using the health and social care service with example and relevant citations (4.3). |
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M2 Select/design and apply appropriate methods/techniques |
Use a range of methods and techniques to collect, analyse and process information/data. Apply and analyse detailed knowledge and skills, using relevant theories and techniques. |
To achieve M2: To achieve M2 you must select appropriate resource materials for the assignment with the use of the internet, journals, publications and text. The bibliography must be presented in Harvard Referencing format. (ALL TASK) |
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M3 Present and communicate appropriate findings |
Presentation have been used appropriately and technical language has been accurately used. Coherently present and communicate work using |
To achieve M3: You must analyse the factors that may influence the availability of financial |
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technical language accurately |
resources in health and social care organisations with example and relevant citations (2.2) And you must review different types of budget expenditure in health and social care organisations with example and relevant citations (2.3). |
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D1 Use critical reflection to evaluate own work and justify valid conclusions |
Conclusions have been arrived at through synthesis of ideas and have been justified. |
To achieve D1, You must critically evaluate how decisions about expenditure are made within a health or social care organisation with supporting evidence from the case study/own experience and drawing a justified conclusion. (2.4) You must evaluate systems for managing financial resources in a HSC organisation with supporting evidence from the case study/own experience and drawing a justified conclusion (1.4) |
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D2 Take responsibility for managing and organising activities |
Check validity when collecting, analysing and processing complex information/data. Adopt and correctly use a recognised referencing scheme e.g. Harvard Referencing |
To achieve D2, You must critically analyse the relationship between a HSC service delivered, costs and expenditure showing the relationship (interdependence) between service delivered, cost and expenditures. Your analysis should be backed by appropriate research (4.2) You must also critically analyse the factors that may influence the availability of financial resources in health and social care organisations. You must clearly show the relationship between these factors and how they influence financial resources (2.2) |
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D3 Demonstrate convergent/lateral/ creative thinking |
Alternative and innovative approaches have been considered |
To achieve D3, Provide suggestion that must demonstrate creative and innovative thinking on ways to improve the health and social care service through changes to financial systems and processes (4.4) You must also critically evaluate budget monitoring arrangement in health or social care organisation. You should also suggest other innovative ways of budget monitoring with justification (3.3) |
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Assignment title |
MANAGING FINANCIAL RESOURCES IN HEALTH AND SOCIAL CARE |
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Purpose of this assignment: The health and social act 2012 requires health practitioner and social care managers to be more innovative, more productive and more accountable while delivering the NHS, Adult Social care and Public health outcomes (quality, safety and patient experience) By carrying out this assignment, learner will be equipped with the knowledge and understanding needed to monitor costs, make predictions, evaluate the process of effective control of resource allocation, including shortfalls, and make recommendations for expenditure in health and social care organisation. Breakdown of assignment: Write a 3500-word essay consisting of four main sections addressing the learning outcomes above. In this assignment students must demonstrate their understanding on Financial management and reporting which is an essential component of health and social care management and a concept that is required to manage cash in-flow and out-flow. Please refer to the scenarios below: Coursework requirements: To receive formative feedback on the essay it should be handed in on the 6th and 13th week of the course. |
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Case Study: You are one of the home managers for CareSouth Group, a care home team worked closely with the Alzheimer’s Society on the Dementia Friendly communities project, including holding events such as a Dementia awareness tea party, etc. You have been invited to present a report to the Directors of the company as part of government review and monitoring of your care home. This report is aimed to demonstrate your understanding and knowledge in Planning and managing budget in your home, it will show your skills in resource control and managing shortfall with your ability to make prediction and make recommendation for the future expenditure CareSouth Group. |
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A full report can be also retrieved from http://www.care-south.co.uk/wp-content/uploads/2014/12/Annual-Review-of-the-Year-2013- 14.pdf Task 1 (LO: 1.1, 1.2, 1.3 & D1)
(AC 1.4 & D1) The first part of the assignment addresses learning outcomes: 1.1, 1.2, 1.3 & 1.4. This section of the essay should consist of 900 words. |
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Task 2 (LO: 2.1, 2.2, 2.3, M3, D1 & D2)
M3) 2.4 Evaluate how decisions about expenditure could be made in CareSouth Group care home. (You also need to do also comparison with respect to financial year 2012/13) (AC 2.4 & D1) The second part of the assignment addresses learning outcomes: 2.1, 2.2, 2.3 & 2.4. This section of the essay should consist of 900 words. i. |
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Task 3 (LO: 3.1, 3.2 & 3.3, M1, D3) 3.1 Assuming there was financial shortfall in CareSouth Group care home; explain how this situation could be managed? (AC 3.1) 3.3 Evaluate budget monitoring arrangements in CareSouth Group care home (AC 3.3, M1 & D3). |
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The above assignment addresses learning outcomes: 3.1, 3.2, and 3.3. This section of the essay should consist of 800 words. |
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Task 4 (LO: 4.1, 4.2, M1, D2 & D3)
& D2).
through changes to its financial systems and processes (AC 4.4 & D3). The above assignment addresses learning outcomes: 4.1, 4.2, 4.3 & 4.4. This final section of the essay should consist of 900 words |
Achievement Summary
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Qualification |
Pearson BTEC Levels 4 and 5 Higher Nationals in Health and Social Care (QCF) |
Assessor name |
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Unit Number and title |
Unit 14: MANAGING FINANCIAL RESOURCES IN HEALTH AND SOCIAL CARE |
Student name |
Learning Outcome
Assessment Criteria
In this assessment you will have the opportunity to present evidence that shows you are able to:
Task no.
Achieved (Yes/ No)
LO1: Understand how systems are
used to manage financial
resources in health and
social care
1.1
Explain the principles of costing and business control systems
1 1 1 1 2
2
2
2 3 3
4 4 4
1.2
Identify information needed to manage financial resources
1.3
Explain the regulatory requirements for managing financial resources
1.4
Evaluate systems for managing financial resources in a health or care organisation
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
2.2
Analyse the factors that may influence the availability of financial resources in health and social care organisations
2.3
Review different types of budget expenditure in health and social care organisations
2.4
Evaluate how decisions about expenditure are made within a health or social care organisation
LO3: Understand the importance
of monitoring budget
expenditure in health and
social care organisations
3.1
Explain how financial shortfalls can be managed
3.2
Explain the actions to be taken in the event of suspected fraud
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3 |
3.3
Evaluate budget monitoring arrangements in a health or social care organisation
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
4.2
Analyse the relationship between a health and social care service delivered, costs and expenditure
4.3
Evaluate how financial considerations impact upon an individual using the health and social care service
4.4
Suggest ways to improve the health and social care service through changes to financial systems and processes.
4
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Higher Grade Achievements |
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Grade descriptor |
Achieved (Yes/ No) |
Grade descriptor |
Achieved (Yes/ No) |
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M1: Identify and apply strategies to find appropriate solutions |
D1: Use critical reflection to evaluate own work and justify valid conclusions |
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M2: Select / design and apply appropriate methods / techniques |
D2: Take responsibility for managing and organising activities |
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M3: Present and communicate appropriate findings |
D3: Demonstrate convergent /lateral /creative thinking |
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Unit Indicative Contents
Costing and business control systems: costs, income, cost-benefit analysis, expenditure, budget, capital, cost control, cost centre; outsourcing, competitive tendering, forecasting, profit, break-even; basic software for monitoring financial information within an organisation
Information: business costs eg people, equipment, finance, buildings, consumable items, administration; income streams; trends and external influences eg changes in policy, competitive factors, legal requirements
Regulatory requirements: legislation and codes of practice, audit, accountability, policies Systems: sources of income, how budgets are set, administration of budgets, cost centres,
accountabilities, audit requirements.
Diverse sources of income: public, private, voluntary; local, national
Influences on resource availability: funding priorities, agency objectives and policies, private finance, outsourcing, inter-agency partnerships, government policies, geography, type of service
Types of budget: cost centre, project management, outsourcing contract
Decisions about expenditure: environmental analysis, accountabilities, priorities, short-,
medium- and long-term planning; cost-benefit analysis; financial risk, project management.
1 Understand how systems are used to manage financial resources in health and social care
2 Understand the role of planning in the management of health and social care budgets
3 Understand the importance of monitoring budget expenditure in health and social care organisations
4 Understand how systems and processes for managing financial resources influence health and social care services
Information for monitoring expenditure: cash flow, controlling costs, spreadsheet data, training needs
Financial shortfalls: priorities, virement, reserve funds, alternative external income sources; implications for individuals within the service
Suspected fraud: analysing financial information for reliability, validity and sufficiency; reporting, evidence of fraud
Financial decisions: responsibility for decision making, information available, sources of income, priorities etc
Relationship between service delivery, costs and expenditure: cost-benefit, pricing policies, purchasing arrangements
Impact on individuals: quality of service, access to service
Recommendations: options available, supporting evidence, information to be presented for
discussion by financial decision makers
Essay terms explained
To write a good essay, firstly you need to have a clear understanding of what the essay question is asking you to do. Looking at the essay question in close detail will help you to identify the topic and ‘directive, which instruct you how to answer the question. Understanding the meaning of these directive words is a vital first step in producing your essay.
Essay term
Definition
Analyse Describe the main ideas, showing their relationships and significance where you need to break an issue into its constituent parts. Look in depth at each part using supporting arguments and evidence for and against as well as how these interrelate to one another.
Assess
Consider the value of, paying attention to positive/negative aspects where you need to weigh up to what extent something is true. Present your argument by citing relevant research and also point out any flaws and counter-arguments as well.
Conclude by stating clearly how far you are in agreement with the original proposition.
Compare
Evaluate/ Critically evaluate
Define
Discuss
Explore Illustrate
Justify
Summarise
Look for similarities and differences on any one or more phenomena. Compare’ and ‘contrast’ is often associated with many questions
Here you need to put your argument or verdict so as to explain on what extent a statement or findings within a piece of research are true. Hence in this type of questions, you need to provide evidence taken from a wide range of sources which both agree with and contradict an argument but at last you need to come to a final conclusion, basing your decision on what you judge to be the most important factor.
You need to give a precise term which can explain the meaning of the required term & problem.
Here you need to write case for and against an argument like a debate but do use your reasoning skills too to point out the advantages and disadvantages on a given context and also support with your conclusion.
You need to represent variety of different viewpoints by adopting a questioning approach and synthesise joined views of different points.
Similar to ‘explain’ but here you can make use of definite examples and statistics to add weight to your explanation.
Make a case by providing a body of evidence to support your ideas and points of view. In order to present a balanced argument, consider opinions which may run contrary to your own before stating your conclusion.
Provide a shortened form illustrating out the focal/main facts and neglect unnecessary information. Brief or over-all illustrations/ examples will normally serve for this kind of answer
You need to explore the dissimilarities or the points set in opposition in order to bring out the
differences. This is similar to compare but you need to focus on the dissimilarities between two or more phenomena. Point out any differences which are particularly significant.
Contrast
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Examine |
Here you need to give close attention and establish the key facts and important issues surrounding a topic. Here you can do critical evaluation and you should try and offer reasons as to why the facts and issues you have identified are the most important. |
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Demonstrate |
Here you need to illustrate, show or to practically visualise an actions or activity. This type of question can be associated with witness testimony or observation report. |
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Explain |
Here you need to clarify a topic by giving a detailed coverage as to how and why it occurs, or what is meant by the use of this term in a particular context. Your writing should cover key terms where appropriate, and be validated with appropriate research. |
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Identify |
Here you need to state the key points to be addressed and implications thereof. |
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Interpret |
Here you need to present your understanding on an issue or topic. You view point towards any research and comments why? |
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Outline |
Present with the main points placing emphasis on main findings and interrelationships with the questions/ topic asked (Don’t go into detail). |
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Describe |
This term is associated with covering detailed explanation as to how and why something happens. |