Explain the importance of accounting and finance management in the context of a health and social care organization.

1. Understand the role of financial information in managing health and social care organizations

1.1 Explain the importance of accounting and finance management in the context of a health and social care organization.
1.2 Evaluate how financial software is utilized within the accounting functions of organizations.

1.3 Describe how key financial ratios are used by health and social care organizations.

2. Understand the different sources of finance available for the health and social care organizations

2.1 Differentiate between long and short-term business finance needs of health and social
care organizations.

2.2 Explain the benefits and limitations of various sources of finance available to an organization.

2.3 Evaluate the process of budgetary control and revenue management in health and social care organizations.
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 organizational 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 organizations