Preface
1. Foundational Elements of Financial Management and Reporting Standards
Understanding Financial Statements
Proper Financial Statement Structure
Characteristics of Good Financial Reporting
Reporting Veterinary Practice Operating Results
Financial Analysis Simplified
Case Study: Financial Statement Analysis
Summary
2. The Revenue Cycle
Components of the Revenue Cycle
Steps to Ensure Revenue Maximization
Revenue Enhancement
Sources of Revenue
Productivity Defined
Ancillary Services
Summary
3. Controlling Expenses
Expense Management
Types of Expenses
Major Classifications of Expenses
Summary
4. Assessing the Effect of Financial Performance
Firsthand Analysis of Financial Performance
Other Indicators to Watch
Measures of Productivity
Variance Analysis
Balance Sheet Considerations
Role of Outside Professionals
Summary
5. Ratios and Benchmarking
Ratios
Benchmarking the Veterinary Practice
Summary
6. Cash Management and Associated Internal Controls
Developing Banking Relationships
Fraud and Embezzlement Prevention
Credit Cards
Petty Cash
Summary
7. Budgeting, Pro Formas, and Other Financial Planning Processes
Budgeting
Pro Forma Statements
Business Plans
Feasibility Studies
Capital Acquisition and Investment Scenarios
Summary
8. Supplemental Financial Reports
Dashboard Reports
Flash Reports
Detailed Reports
Summary
9. Information Technology and Financial Management
Going Paperless
Conducting a Successful Implementation
Data Backup and Recovery Protection
Summary
Glossary
Index