Fundamentals of Finance for Social Care Managers

Module Details

Module Code: n/a
Full Title: Fundamentals of Finance for Social Care Managers
Valid From:: Semester 2 - 2023/24 ( January 2024 )
Language of Instruction:English
Duration: 1 Semester
Credits:: 5
Module Owner::
  • Annaleigh Margey
  • Emer McKenna
Departments: Humanities
Module Description: The aim of this module is to equip social care managers with the competencies to manage the finances of both social care organisations and service users. The focus will be on the application of fundamental financial concepts to practical business and personal situations common to a social care setting.
 
Module Learning Outcome
On successful completion of this module the learner will be able to:
# Module Learning Outcome Description
MLO1 Evaluate the Financial Statements of a Social Care organisation to assess its overall financial health and viability.
MLO2 Prepare and construct financial budgets to accurately forecast future income and expenditure for both personalised service users and social care organsiations.
MLO3 Differentiate between different types of expenditure to assist with grant/funding and loan finance applications. Match appropriate source of funds with expenditure items.
MLO4 Manage working capital to ensure the social care organisation has enough cash to operate on a day-to-day/week-to-week basis.
MLO5 Evaluate various capital investment projects using different appraisal methods, identifying the most appropriate option to undertake within capital funding constraints.
Pre-requisite learning
Module Recommendations
This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named DkIT module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
No recommendations listed
 
Module Indicative Content
Financial Statements
Statement of Income, Statement of Financial Position, Income, Expenditure, Assets, Liabilities, Capital
Financial Forecasting
Cash Flow forecasting, Operational Expenditure Budgets, Capital Expenditure Budgets, Personalised Service Users Budgets, Financial Modelling.
Grant Applications and Sources of Funding
Different classification of expenditure - Operational Expenditure v Capital Expenditure; Financial elements of Grant applications, Allocation of funds, different sources of Loan Funding e.g.Social Lending Organisations (SLOs), Microfinance Ireland (MFI), Irish Banking Industry etc.
Working Capital Management
Management of Inventory, Cash, Accounts Receivable, Accounts Payable
Capital Investment Appraisal
Asset replacement decisions, Capital Rationing
Module Assessment
Assessment Breakdown%
Course Work50.00%
Final Examination50.00%
Module Special Regulation
 

Assessments

Full-time

Course Work
Assessment Type Continuous Assessment % of Total Mark 25
Marks Out Of 100 Pass Mark 40
Timing S1 Week 7 Learning Outcome 2
Duration in minutes 0
Assessment Description
Complete an annual budget for a social care organsiation, identifying the main elements of expected Cash Outflows and Cash Inflows using MS Excel.
Assessment Type Continuous Assessment % of Total Mark 25
Marks Out Of 100 Pass Mark 40
Timing S1 Week 10 Learning Outcome 3
Duration in minutes 0
Assessment Description
Case Study outlining the financial situation of a social care organisation. Students will have to identify what type of funding they are seeking (i.e. Operational Expenditure v Capital Expenditure) and complete a funding application for submission to a relevant authority.
No Project
No Practical
Final Examination
Assessment Type Formal Exam % of Total Mark 50
Marks Out Of 100 Pass Mark 40
Timing End-of-Semester Learning Outcome 1,2,4,5
Duration in minutes 0
Assessment Description
n/a

Part-time

Course Work
Assessment Type Continuous Assessment % of Total Mark 25
Marks Out Of 100 Pass Mark 40
Timing S1 Week 7 Learning Outcome 2
Duration in minutes 0
Assessment Description
Complete an annual budget for a social care organsiation, identifying the main elements of expected Cash Outflows and Cash Inflows using MS Excel.
Assessment Type Continuous Assessment % of Total Mark 25
Marks Out Of 100 Pass Mark 40
Timing S1 Week 10 Learning Outcome 3
Duration in minutes 0
Assessment Description
Case Study outlining the financial situation of a social care organisation. Students will have to identify what type of funding they are seeking (i.e. Operational Expenditure v Capital Expenditure) and complete a funding application for submission to a relevant authority.
No Project
No Practical
Final Examination
Assessment Type Formal Exam % of Total Mark 50
Marks Out Of 100 Pass Mark 40
Timing End-of-Semester Learning Outcome 1,4,5
Duration in minutes 0
Assessment Description
n/a
Reassessment Requirement
A repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

DKIT reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full-time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Direct Contact with student Every Week 3.00 3
Independent Study Non Contact Directed Reading Every Week 3.00 3
Independent Study Non Contact Workplace Learning Every Week 3.00 3
Total Weekly Learner Workload 9.00
Total Weekly Contact Hours 3.00
Workload: Part-time
Workload Type Contact Type Workload Description Frequency Average Weekly Learner Workload Hours
Lecture Contact Direct Contact with student Every Week 3.00 3
Independent Study Non Contact Directed Reading Every Week 3.00 3
Independent Study Non Contact Workplace Learning Every Week 3.00 3
Total Weekly Learner Workload 9.00
Total Weekly Contact Hours 3.00
 
Module Resources
Recommended Book Resources
  • PETER. ATRILL. (2019), Financial Management for Decision Makers 9th Edition, 9th. [ISBN: 978-1292311432].
This module does not have any article/paper resources
This module does not have any other resources