Accounting And Financing For Managers Essay

6984 words - 28 pages

Greenwich School of ManagementExecutive MBAModule: Accounting and Financing For ManagersTutor:"A Report Evaluating Financial Information Pertaining to West Kent NHS Health & Social Care Trust's 2004/5 Accounts"Student Name: Graham BlackmanStudent No: HSK008PESubmission date: 9th March 2006Word Count: 4,83962%ContentsPage No.1.Introduction32.Background Information on Trust and Author33.Purpose of Accounting Standards44.Statement of the Chief Executives and Directors65.Statement of Internal Control 86.Independent Auditors report97.Income and Expenditure Account 78.The Balance Sheet 169.Cash Flow Statement2110.Who Will Be Reading the Accounts?25AppendicesA.Pro Forma Statement on Internal Control27B.Notes 3 and 4, Income from Activities29C.Note 5.1, Operating Expenses 30D.Notes 8 and 9, Disposal of Fixed Assets & Interest Payable 31E.Note 10, Intangible Fixed Assets32F.Note 11.1, Tangible Fixed Assets33G.Notes 12 & 13, Current Assets34H.Note 15, Creditors35I.Note 22, Public Capital Dividend36J.Note 17, Reserves37K.Note 18.1, Operating Activities Cash Supplies38Tables1.Income and Expenditure Statement122.Balance Sheet173.Cash Flow Statement22Boxes1.Deprecation Rates For Tangible Assets12References391.IntroductionThe following report is an evaluation of financial information produced at the end of the 2004/5 financial year for West Kent NHS and Social Care Trust. The author shall initially give brief background information on himself and his organisation followed by an overview of the purpose of accounts and the bodies and panels affecting accounting. A review of the information submitted in the reports by the chief executive and directors, together with a review of the statement of internal control and the independent auditors report will then be presented. After which the report will discuss the three main areas of the accounts. Firstly the income and expenditure accounts, secondly, the balance sheet for the organisation, and thirdly, the cash flow statement, analysing each element in turn. Finally the author will then discuss 3 stakeholders who may wish to gain information from the accounts.2.Background2.1I currently practice as a ward manager within an Assessment and Intervention Service for individuals who have a learning disability and a concomitant mental health or forensic need.2.2The service is part of West Kent NHS Health and Social Care Trust, (West Kent), which is an integrated health and social care trust that specialises in the provision of mental health services to the people of West Kent. The Trust operates through four clinical areas and from approximately 150 sites.3.Purpose of Accounting Standards3.1Inconsistency between company accounts prompted the accountancy profession to introduce standardised procedures known as Accounting Standards (Black 2002). Today, Accounting Standards are known as Financial Reporting Standards or (FRSs). Standards issued by previous bodies were known as Statements of Standard Accounting...

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