How to convert your practice financial accounts into practical tools for management

Business Theatre - Gallery Suite 18&19

Every practice arranges the production of Financial Accounts as the major source of information for people not generally involved in managing the business. Management Accounts provide financial and statistical information to enable owners to make the operational decisions required to achieve business objectives and are of greatest value when they are designed by the team which will use them. The session will include a practical approach to using the Financial Accounts to create a number of business tools and reports - and show how they can be used to control costs, optimise profit and practice value, review the separate contribution made by professional products, services, premises and client categories and prepare a 'year 1' budget that works

Learning outcomes:

  • Learn how to create practical management accounting reports to better understand why your practice may not be generating the financial success you deserve
  • Monitor Income and Expenditure and Working Capital trends and highlight the Key Performance Indicators (KPI’s) which have the greatest impact on your practice profit
  • Find out how and where to download free proforma blueprints you can use to create customised, practical business tools for your management team
  • Learn how to identify and implement the top two or three operational policies which will enable you and your practice team to achieve the success you all deserve.
Libby Kemkaran-Thompson, Practice Development Coach - Vet Dynamics (UK) Ltd

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