HACM9103 Financial Management in Aged Care

Professor Arthur van Deth

Not offered this year

2016

4.5

1 x 4-day intensive workshop per semester

Topic only available to students meeting the eligibility requirements for entry to the postgraduate health and aged care administration programs

Assignments; Tutorial participation

The Syllabus includes:

Introduction to accounting and finance
The financial statements - balance sheet, income statement and cash flow statement
Analysis and interpretation of financial statements
Cost - volume - profit analysis and marginal analysis
Capital investment decisions
Key trends affecting demand for aged care services
Funding sources for aged care
Financial management of residential aged care - budgeting, managing cash flows, capital investment decisions
Financial governance
Risk management
Reporting - Key Performance Indicators

The topic aims to provide students with introductory resource management and accounting principles, and the knowledge of how these are applied within aged care.

On completion of the topic students should be able to:

Discuss how accounting functions as a tool in the decision making, planning and control process within aged care
Outline the purpose and function of the three main financial reports, namely the Balance Sheet, the Income Statement and the Cash Flow Statement
Apply commonly used techniques to analyse an organisation's financial statements
Explain the nature of the relationship between volume of activity, costs and profit and how knowledge of this relationship can be used to make decisions and assess risk
Describe the nature of funding sources for aged care
Demonstrate an understanding of budgeting and cash flow management
Apply the methods commonly used in making capital investment decisions
Appreciate the importance of adopting appropriate financial governance and risk management strategies.

Key dates and timetable

Timetable details for 2016 are no longer published.

This information is from current details held on the Student Information System. Please report any errors or omissions to the relevant College Office.