Pricing and Management Accounts
Relevant for roles:
Practice Manager
Course Details
This short course consists of 2 webinars. The first webinar covers the principles and tactics of pricing and charging, including mark-ups and margins. The second webinar looks at the management accounts, including how to read and understand the profit and loss sheet and the balance sheet. It also covers the 'differential diagnoses' of high cost of sales and high staff costs and overheads. It finishes with a simple but very useful algorithm that all practice managers should know that helps them conceptualise, diagnose, and decide which specific areas they need to address, and how to improve their practice's financial performance.
You will be presented with a course module followed by an assessment.
- If you achieve 80% or more, you pass the course and will receive a printable certificate. If you do not pass, you will have the opportunity to review the content and retake the assessment when you feel confident.
Aims
This course is relevant to anyone involved in pricing and management accounts at their practice.
Objectives
During this course learners will be able to:
- Feel confident in the principles and tactics involved in veterinary pricing.
- Know how to correctly charge clients.
- Know how mark-ups and margins are calculated and assessed.
- Understand how to read the profit and loss sheet, as well as how to read the balance sheet.
- Be aware of the 'differential diagnoses' of high costs of sales, staff and overheads.
- Understand the specific areas within practice that need to be addressed and how to improve a practices' financial performance.