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Get FIN5003 Financial Control and Budgeting Assignment Help with Punjab Assignment Help
Get FIN5003 Financial Control and Budgeting Assignment Help with Punjab Assignment Help

Assessment Type: Portfolio of Tasks

Date for Submission: Please refer to the timetable on ilearn

(The submission portal on ilearn will close at 14:00 UK time on the date of submission)

Task 1 in FIN5003 Financial Control and Budgeting

  • Critically analyse the legal, financial and regulatory environment of health and social care.
  • Critically evaluate the use of alternative funding options such as Private Finance Initiatives (PFI), agency partnerships, competitive tendering and outsourcing in the health and social care sector.
  • Discuss agency theory in the context of the NHS. Explain the importance of and ways of communicating with stakeholders in the context of budgeting.

Task 2 in FIN5003 Financial Control and Budgeting

Write a 2000 word briefing document covering the following points;

  • Critically discuss the impact of financial constraints, costs and budgets on health and social care service managers, their clients and other stakeholders.
  • Explain the particular   challenges of budgeting  in public   sector organisations
  • Critically discuss the advantages and disadvantages of incremental and zero-based budgeting.

Task 3 in FIN5003 Financial Control and Budgeting

Sams Ltd is specialized in producing and selling washing machines. In 2018, the manufacturing cost per unit included:

 £
Direct material125
Direct labour (20 minutes per unit)45/hour
Variable manufacturing overhead20
Variable selling expenses15
Variable administrative expenses10

Fixed costs for the year ended 31 December 2018 were:

 £000
Fixed manufacturing1,100
Fixed selling and distribution1,450
Fixed administrative675

The company produced and sold 220,000 units at £225 per unit.

In 2019, management has decided to increase the selling price by 25% and to maintain the same contribution margin ratio as last year. This increase in price is to meet an increase of £1,450,000 in fixed costs in 2019. The company has produced and sold the same quantity in 2019 as last year.

Required

  • Calculate the break-even point and margin of safety in both units and revenue for the two years, 2018 and 2019, and briefly comment upon the results.
  • Critically discuss key assumptions attached to the breakeven model, within the light of the reality of today’s business environments.

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