This book will not only be useful to GPs and their practice managers but to their accountants, too. The authors’ aim is to meet the needs of readers who want to understand accounting for GPs in a practical way. The book is not written in the style of a textbook, but as a fictional case study that encapsulates a real situation of a partnership and gives an insight into the financial control of the general medical practice.
In today’s medical practices GPs need to be much more than health care providers. They must also understand the accounting side of their general medical practice. The authors focus on financial accounting, which shows in detail how to present the practice accounts and tax implications thereto. In management accounting they show the crucial role played by the business manager in practice decision-making. Concise explanations of the fees and allowances are extracted from the Red Book, together with the latest figures.
Key features are:
- The Case Study
- Preparatory Work to Financial Accounting
- Financial Accounting
- Presentation of the Financial Statements
- Financial Planning
- Management Accounting and Business Decisions
- Budgets in Medical Practice
- Preparatory Work to Budgets
- Budgeted Forecast Statements
- Financial Analyses and Evaluation of Performance
- Tax Implications to the Case Study
The Author: M Bashir Khatri is an accountancy graduate from Thames Valley University. He has done post graduate studies with Durham University Business School and was awarded Master of Business Administration (MBA) in 2008. He is a Fellow of the Institute of Financial Accountants, a Fellow of the Institute of Chartered Management and a Fellow of Federation of Tax Advisors. He has many years’ experience in the accountancy profession and has been with firms of chartered accountants in St Austell, Hove, London and finally Grant Thornton in Leicester. He established his accountancy practice in 1990 and publishing company in 1998.