HEALTH AND SOCIAL CARE MANAGEMENT

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SCHOOL OF HEALTH AND SOCIAL CARE
HND – HEALTH & SOCIAL CARE MANAGEMENT

GROUP: XXX
MANAGING FINANCIAL RESOURCES

REPORT ON CARE TECH HOLDINGS PLC, FOR THE YEAR ENDED 2013

STUDENT NAME
STUDENT ID

Lecturer: Theresia Vughosu

CONTENT INTRODCUTION……………………………………………………………………………………………

TASK 1: SYSTEMS USED TO MANAGE FINANCIAL RESOURCES IN CARE TECH
1.1 Principles of costing and business control systems…………………………………………………..
1.2 Information needed to manage financial resources…………………………………………………..
1.3 Regulatory requirements………………………………………………………………………………...
1.4 Systems for managing financial resources…………………………………………………………….

TASK 2: ROLE OF PLANNING IN THE MANAGEMENT OF CARE TECH
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The important
Cost behavior The way a specific cost reacts to changes in activity levels is called cost behavior. Costs may stay the same or may change proportionately

Variable Cost / Product Cost: Variable costs are the Fixed and Variable cost
A cost is fixed if, within a specified period of time, it does not change in response to changes in the level of activity. A variable cost is one that changes in response to changes in the level of activity, it changes in direct proportion to the volume of activity, that is, doubling the level of activity will double the total variable cost total cost over a period of time for the variable inputs. Any increase in the volume of production results in an increase in the variable cost and vice versa. For example, of variable costs is the cost of raw material.
Semi-Variable Cost / Semi-Fixed cost: These costs are in part fixed and in part variable. For example: repair machine fees. Semi-variable cost includes both a fixed and a variable element. For example, a telephone bill contains a fixed standing charge and a variable charge based on the number of units dialled.
A semi-fixed cost or stepped cost is one where the cost remains constant for a range of activity; then when the activity increases still further the cost will take a step upward. Break-even Analysis is an expected component of most
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