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Managing Financial Resource and Decisions in HSC Assignment

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Added on  2019-12-28

Managing Financial Resource and Decisions in HSC Assignment

   Added on 2019-12-28

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MANAGING FINANCIALRESOURCES AND DECISIONS INHEALTH AND SOCIAL CARE1
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INTRODUCTIONIn the company finance playing a key role along with highly significant place because ifthere is adequate and proper finance is not available with the firm then cannot comes intoexistence in the market. Apart from this at the workplace when there are financial resources areavailable then compulsory to manage it in the appropriate method. The current case study ofmanaging resources like as financials is analysed by taking base to the CareTech Holdings Plcwhich is operating in the health and social care industry of the UK. The report shows about thevariety of systems as well as approaches used by the company in order to manage the financialresources. In context to this, the current study is helpful for the reader in order to know as well asunderstand about the planning process that it is up to which extent profitable for the health andsocial care to prepare budget. In the third task, it focuses on importance and the significance ofthe monitor and manage the budget expenses in the chosen firm. Beside these all in the last part,the current case study focuses on those factors which lead to hamper and make changes in thefinancial resources of CareTech which it has at the working environment.TASK 11.1 Explanation of costing principles as well as various systems to control business which areused by CareTech Holdings PlcFinancial information- For the every business entity it is highly necessary to assess andanalyse various financial informations which are comes into consideration at the workplace. Onthe basis of different types of financial informations such as profit, costing, income etc. theCareTech company can know that up to which extent it is performing well or poor. Through thisif the management found that cost enhancing against reducing sales then can frame strategies forcontrol cost and make the CareTech healthier in terms of financials (Bates and et.al., 2014).Break even point- It is the method at where the management of health and social careassess that total company will how much require to produce number of units and charge prices.The respective point shows company's that situation at where cost of production as well as4
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