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3.1 Explain the rules of double-entry book- keeping and how it is used to maintain financial records.


3. Understand how business decisions in health and social care can be informed by financial information.


2.3 Evaluate the process of budgetary control andrevenue management in a health and social care organisation.


2.1 Differentiate between long- and short- term business finance needs of health and socialcare organisations.


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


1.2 Evaluate how financial software is utilised withinthe accounting functions of organisations.


1.1 Explain the importance of accounting and finance management in the context of a healthand social care organisation.


Unit HSC703: Managing Finance in the Health and Social Care Sector


The aim of this unit is to enable the learner to understand the processes involved in the recruitment, management and development of people in the health and social care workplace.


4. Understand strategies for managing a diverse workforce.


4.1 Analyse the significance of cultural diversity to the health and social care sector.


3.3 Analyse techniques for promoting continuous professional development in health and social care.


3.1 Explain techniques for monitoring performance in health and social care


3. Understand performance management in health and social care.


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