Managing Financial Resources in Health 
Introduction
This is a report which is written based on the concept of financial management and the business resources in health care based company (Bryans, 2007). It is aimed to provide emphasis on the impression of costs and control that are available in the social health care settings. It is also required to provide deep examination of the system that are used in the health care industry to provide effective financial and resource management (Groppelli & Angelico, 2000). This ensures that the organization resources are managed effectively to provide adequate returns.
1.1 The principles of costing and business control systems
There are a number of costing principles and business controls which require the company to examine its current costs with the budgeted costs. This ensures that there is good cost control since the company spends its financial resources in accordance with the budget (Mick and John, 2003). Costing methods which the company uses should be the ones which control the company expenditures. The company should use bidding system when purchasing its health care resources since this provides amore legal guideline of procurement procedures (Martin et al, 2010). During the procurement process there should be high level of transparency, integrity and due diligence so that the company manages its expenditures and costs efficiently.
1.2 Identify information needed to manage financial resources
There are a number of financial and non financial information which are required in the management of financial resources of the company (Martin et al, 2010). The availability of this information is very important in costs allocation, decision making and cost control so that the resources of an organization can produce high investment returns.
Transparent and Accurate Accounting Information
It is important for an organization to have accurate and transparent accounting information which can increase the confidence of their users (Watson and Head, 2012). This
This is a report which is written based on the concept of financial management and the business resources in health care based company (Bryans, 2007). It is aimed to provide emphasis on the impression of costs and control that are available in the social health care settings. It is also required to provide deep examination of the system that are used in the health care industry to provide effective financial and resource management (Groppelli & Angelico, 2000). This ensures that the organization resources are managed effectively to provide adequate returns.
1.1 The principles of costing and business control systems
There are a number of costing principles and business controls which require the company to examine its current costs with the budgeted costs. This ensures that there is good cost control since the company spends its financial resources in accordance with the budget (Mick and John, 2003). Costing methods which the company uses should be the ones which control the company expenditures. The company should use bidding system when purchasing its health care resources since this provides amore legal guideline of procurement procedures (Martin et al, 2010). During the procurement process there should be high level of transparency, integrity and due diligence so that the company manages its expenditures and costs efficiently.
1.2 Identify information needed to manage financial resources
There are a number of financial and non financial information which are required in the management of financial resources of the company (Martin et al, 2010). The availability of this information is very important in costs allocation, decision making and cost control so that the resources of an organization can produce high investment returns.
Transparent and Accurate Accounting Information
It is important for an organization to have accurate and transparent accounting information which can increase the confidence of their users (Watson and Head, 2012). This
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