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Your financial statements offer a real-time overview of your practice’s fiscal health and can alert you to potential financial problems. When you know how to read your financial statements, you will be able to avoid making poor business decisions and identify areas that can help you grow your practice.
Best Bits
Different types of financial statements
Cash basis vs accrual basis
Three different components of a financial statement
Examples of the balance sheet, profit and loss statements, and cash flow statement
Learning Objectives Upon completion of this program, participants should be able to:
Explain the differences between the three basic financial statements; and
Use financial statements to make informed decisions about the practice.
ACGME/ABMS Competencies This program addresses the following desirable physician attributes: Work in Interdisciplinary Teams and Roles/Responsibilities.
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