Finance and Internal Management - Financial Ratio Analysis - Accounting and Finance Assignment Help

Assignment Task:

The task for this assignment relates to the change management plan you submitted for Assignment 1. You must now consider financial implications of the change you have proposed.

1. Implementing change generally involves additional resources, which can include human resources, equipment, facilities and others. It may also require having to redeploy or retrench staff, or divest of equipment or other items. These actions have financial implications that you need to consider.

2.Also funding must be available to implement and sustain the change, and you should identify and justify the source of this funding.

3.Going forward, the change is likely to impact on the financial performance of the organisation. This impact may be on revenue, expenses, interest payments and so on, all of which will have an effect on profit/surplus of the organisation. 

4. You may also like to think about timing issues; for example will there be a time lag before the full financial impact of the change is realised.

5. Another question relates to accountability and regulatory issues. Are there any such issues you need to consider?

You will need to consider:

• Theoretical concepts around change management; functions and roles of a health services manager; health services organizations, external environment and any other theoretical concepts relevant to you change management plan.

• Role of the finance function in strategic and operational management.

• Application of each of the following to the change management process: cash, operational and capital budgeting; managing short-term resources and obligations; long-term financing; accountability and control factors

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