Using The Information Provided Prepare An Annual Budget: Financial Management In Health System Assignment, TCD, Ireland

Part One:

1. Using the information provided prepare an annual budget for the two new units for presentation to the management team of HOPE Hospital. The presentation of the budget should be in a format relevant for management understanding (workings required).

2. Using the information provided prepare a budget (pro-rata budget) versus an actual financial analysis report for the first quarter operation of the new oncology service. The presentation of the information should be in a format relevant for management understanding (workings required).

3. As part of the report, briefly comment on the efficiency or otherwise of the new oncology service (workings required).

You are required to prepare an individual learning journal on two of the modules reflecting on the module content. There are six modules in total (F1-F6), please select two for your journal. The learning journal should be a reflective log of the module learnings and may conclude with key practical takeaways for you in your role / future role.

How has your understanding of financial management changed as a result of taking this module? For example:

– What particular aspects of the modules were most thought-provoking for you and why?

– What aspects of the modules do you think would be most difficult to implement in your organization and why?

– What financial metrics are employed to measure the effectiveness of the performance of your functional area in the context of your own organization?

– Do you think that the financial aspects of your functional area decisions are given sufficient prominence in your own organization? If not, what practical steps could you take to make improvements?

– What particular aspects of the modules are of the most immediate practical relevance to you in your present role? How will you draw on these to make your job more effectively?