Basic Accounting and Finance for Medical Doctors and Allied Healthcare Practitioners

At end of this workshop, participants will

• Understand the basic areas of accounting and finance, the terminology and the structure
• Learn a range of practical analytical skills for interpreting and handling financial information
• Understand the key mechanics of accounting in the context of a practical working environment
• Be more confident about dealing with financial information, particularly when reviewing your company or others’ financial data
• Be able to read and confidently interpret complex information presented in financial reports
• Enhance decision support skills

CONTENT

Understanding Different Types of Financial Information

• The different types of financial information
• The flow and hierarchy of information in a company regulated and non-regulated information
• Distinguishing different types of information and what it is derived from
• Basic accounting terminology explained
• The significance of different accounting terms
• Reporting formats and opportunities to enhance their effectiveness

The Cash Cycle

• Cash versus profit
• The flow of money in and out of a company
• How this is managed and controlled
• Customers & Suppliers: the collection and payment processes
• Basic cash flow statements – creating it and using it to interpret performance

Inventory and Fixed Assets

• How to establish the value of a companies’ inventory
• Different methods of valuation
• How fixed assets are recorded
• Asset lives and depreciation choices
• The physical verification of assets
• Firm value vs book value
• Ratios to measure asset effectiveness

Financial Statements

• Understanding the composition of the income statement (profit & loss account)
• Computing profitability, liquidity and gearing ratios
• The statement of Affairs explained
• Interpreting results and making comparisons between companies

Costing and Budgeting

• How we classify costs and set standards
• Different costing methods used in business
• Using cost information to determine break-even profitability points
• Basic forecasting techniques
• Comparing actual performance against budget- variance analysis

FOR WHOM:

Relevant Healthcare Practitioners

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.

DATE:

1ST BATCH: 21st – 23rd Mar, 2022

2ND BATCH: 25th – 27th July, 2022

3RD BATCH: 21st – 23rd Nov, 2022