Managing Finance in Organisations

MQF Level 7

6 Credits (ECTS)

Managing Finance in Organisations

October 2024
Module Type
ECTS Credits
6 Credits (ECTS)
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Module Description

In this module, learners will acquire a foundational understanding of managing finance in healthcare, encompassing key concepts and practices essential to financial management within healthcare organizations.

They will explore the various sets of accounts necessary for professional use and management purposes, gaining proficiency in financial reporting and analysis tailored to healthcare settings.

Moreover, learners will critically assess the nature of costs, including direct, indirect, sunk, and opportunity costs, enabling them to make informed financial decisions and allocate resources effectively.

The module will also cover capital structure, providing learners with insights into financing options and strategies relevant to healthcare organizations.

Additionally, learners will comprehend the intricate relationship between profit and cash flow, recognizing the importance of cash flow management in sustaining healthcare operations and ensuring financial viability.

Through practical case studies and hands-on exercises, learners will develop the skills and competencies necessary to navigate the financial complexities of healthcare management with confidence and competence.

Entry Requirements

Candidates who apply for this course must possess one of the following: 

  • Level 6 degree in a related field; 


  • Level 5 diploma or higher diploma and 5 years’ work experience in a supervisory or managerial role. 


Preference is given to applicants having a Level 6 degree in a discipline related to the healthcare industry and a minimum of 3 years’ work experience in management within the sector.  


Target Audience

The programme is mainly targeted at:  

  • Nurses and Midwives; 
  • Nursing Managers; 
  • Ward Managers; 
  • Clinic /Department Managers; 
  • Physiotherapists; 
  • Social Workers;
  • Doctors; 
  • Professionals allied to medicine, such as paramedics; 
  • Staff within the pharmaceutical and medical devices industries; 
  • General Managers without clinical qualifications. 

Module / Unit Instruction

The proposed structure comprises a blended approach promoting the building of a community of practice via peer-to-peer learning.

The structure uses primarily two dimensions of teaching-learning modes:

  • Face-to-face sessions: 28 hours.
  • Online Learning Activities: 17 hours

Face to Face sessions

Face-to-face sessions include lectures, tutorials, discussions, presentations and workshop activities promoting peer-to-peer learning.

Online Learning Activities

Online learning activities incorporate tutorials and asynchronous discussions. These may consist of active interaction, participation and contributions in fora discussions, sharing resources and self-reflection exercises.

Learners also contribute to the building of the community of practice by providing feedback to their peers as critical friends, enhancing the learner’s critical engagement throughout the study period.

The tutor provides continual support during both teaching -learning modes by providing information, readings and tasks relevant to the module in question.

The tutor provides continuous formative feedback as an on-going guidance during the student’s learning experience in preparation for their summative assessment.

How you’ll be assessed

Assessment of each module consists of two assignments, each carrying a weighting as below:

a) One Formative assignment carries 20% of total module mark achieved. b) One Summative assignment carries 80% of total module mark achieved.

For successful completion of a study module the student is required to achieve a minimum of 41% pass mark in both the formative and the summative assignment.

The overall grade achieved for each module is calculated as the sum of: · 20% of the mark achieved for formative assignment; and · 80% of the mark achieved for the summative assignment.

All assignment tasks of both formative and summative assessment aim to provide the learner an opportunity to produce evidence of his/her competences aligned to the learning outcomes of each individual Module.


a) Formative assessment tasks are provided in the form of structured online discussions that support learners in their development throughout all of the modules studied.

Such discussions are facilitated and monitored by lecturer who provides students with constructive feedback to help them improve and prepare for summative assignment and dissertation.

For successful completion of a study module the student is required to achieve a minimum of 41% pass mark in the formative assignment.

Formative assessment tasks will contribute to the student’s final mark to acknowledge their work and give chance to improve.

This method allows students to also contribute to the building of the community of practice by providing feedback to their peers as critical friends, enhancing the learner’s critical engagement throughout the study period.

b) Summative assessment is done via one assignment at the end of each module. The mode of assessment varies and may include in-class assignments, and home-based written assignments.

The recommended assessment tool for this module is an essay title or case studies based on relevant real-life scenarios.

Word count range: 3000 ± 10% For successful completion of a study module the student is required to achieve a minimum of 41% pass mark in summative assignment.


Module Intake Dates

October 2024

Learning Outcomes


At the end of the module/unit the learner will have acquired the responsibility and autonomy to:

  • Identify the financial flows such as tax-based, social/private insurance and structures in Healthcare organisations.
  • Classify costs as direct, indirect, sunk and opportunity cost.
  • Critically analyse, compare and contrast costing and budgeting in a private vs. public Healthcare organisation.
  • Identify cash inflows and outflows in own Healthcare organisation.
  • Interpret the cash flow statement of own Healthcare organisation
  • Carry out financial-based decisions for the prosperity of own Healthcare organisation
  • Compile financial statements and reports required for own Healthcare organisation
  • istinguish between Purchase Orders, Invoices, Quotes and Receipts


At the end of the module/unit the learner will have been exposed to the following:

  • Critically analyse the fundamentals of Costing and Budgeting in Healthcare
  • Analyse the principles and of accounting and finance in relation healthcare systems
  • Evaluate the role and function of financial management (in general)
  • Identify which financial statements and reports are required for the operation of a Healthcare organisation
  • Critically analyse the elements of a Budget and Cash Flow Statement
  • Critically analyse the elements of a Purchase Order, Invoice, Quote and Receipt
  • Critically analyse the nature of costs and the budgeting process
  • Critically analyse capital structure, Cash flow and profit


At the end of the module/unit the learner will have acquired the following skills:

  • Articulate the different roles of accounting and financial management in terms of their use in healthcare organisations
  • Apply and critically appraise fundamental techniques of costing and costing systems
  • Plan and control costs and budgets by applying critical understanding of The Fundamentals of Healthcare Finance and Financial Flows
  • Plan Healthcare Investments in relation to critical analyses of investment theory
  • Apply and critically evaluate the uses and drawbacks of alternative investment appraisal techniques in dealing with resource constrains and within the context of dynamic healthcare systems

Judgment Skills and Critical Abilities:

The learner will be able to:

  • Examine Healthcare organisational objectives in line with financial management
  • Evaluate the financial structures adopted in own Healthcare organisation
  • Assess current processes for drawing up budgets and forecasts in own Healthcare organisation

Module-Specific Communication Skills:

The learner will be able to:

  • Communicate feedback to key stakeholders during different stages of change implementation

Module-Specific Learner Skills:

The learner will be able to:

  • Evaluate own learning on financial-based decisions to identify strengths and weaknesses and opportunities for improvement.

Module-Specific Digital Skills and Competences:

The learner will be able to:

  • Navigate through the online learning platform to find assignments, discussion boards, literature, tutorials etc.
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