This week’s topics
Budgeting and Financial Systems
- Principles of budget management
- Financial control systems
- Variance analysis
- Audit trails and financial reporting
- CIMA P1 Budget Styles, Methods of budgeting
- MA34 - Variance Analysis - Explained
- Introduction to Budgeting (Managerial Accounting)
What you will be able to do
- 4.1 Explain the principles of budget management.
- 4.2 Analyse the systems used to manage finances in health and social care.
Activity
Start with this week’s 3 videos, then: Seminar, guided reading and a short written task: explain the principles of budget management.
Study materials
Videos
- CIMA P1 Budget Styles, Methods of budgeting · YouTube · OpenTuition · 20 min · for registered students
- MA34 - Variance Analysis - Explained · YouTube · Tony Bell · 11 min · for registered students
- Introduction to Budgeting (Managerial Accounting) · YouTube · Edspira · 7 min · for registered students
Further resources
- Principles of Accounting Vol. 2, ch. 7.1–7.2: How managers use budgets; operating budgets · PDF · OpenStax, textbook chapter; pp. 316–328 · for registered students
- Principles of Management, ch. 15: The Essentials of Control · PDF · Saylor Academy, textbook chapter; pp. 566–607 · for registered students
- Health and social care integration: joining up care for people, places and populations (2022) · Reading · GOV.UK, report · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
