Course overview
The aim of this course is to provide students with an advanced understanding of the funding of health and aged care; the role of planning and budgeting; how to identify cost efficiencies; and how to contribute in financial decision-making.
Understanding the importance of health in relation to the economy
Approaches to funding and the linkages to decision-making in health and aged care
The role of accounting and economics in a health service context
Planning, control and budgeting
Cost-volume-profit analysis
Capital investment decisions
The purpose and function of financial statements, including the elements, format, presentation and limitations of the:
o Balance sheet
o Income Statement
o Statement of cash flows
Analysis of performance and financial position
Cost management and control
The role of spreadsheets in analysis and communication for decision-making.
Course learning outcomes
- Apply accounting principles and concepts in order to understand what accounting information is, what it means and how it is used
- Explain the significance of accounting information in the health service environment (including its limitations).
- Interpret financial reports and apply knowledge to critically analyse corporate financial and non-financial information.
- Apply management accounting techniques to oversee preparation of budgets and assist in decision making.