Health economics
• Distinguish between a balance sheet, a profit and loss (or income) statement and a statement of cash flows.
• Identify the five major accounting categories – assets, liabilities, owner’s equity, revenues and expenses – and give examples of these.
• Apply a working knowledge of the doctrines and conventions of accounting – such as relevance, reliability, materiality and timeliness.
• Analyse why actual figures are different from budgeted figures.
• Recommend changes to the financial arrangements in an organisation which will improve the effectiveness of accounting controls.