Bite Size on Understanding of Practice Accounts

Bite Size on Understanding of Practice Accounts

About this Video

Sally Sidaway (FCCA), Medical Director with Morris Crocker Chartered Accountant will be supported by Sue Scott, one of our PM Supporters, be supporting . This session will focus on understanding practice accounts.  As ever, it will be practical, relevant and easy to implement.

Contents

  • Key figures to understand
  • Total profits v Partner FTE profits
  • Drugs results – what do they tell us?
  • Debtors and creditors
  • Maintenance and dilapidations reserves
  • Cash in bank v Net Assets
  • Property and loans
  • Amounts due to former partners
  • New to partnership Incentive treatment
  • PCN entries in practice accounts
  • NHS v NON NHS income splits
  • Importance of staff category cost split and ARRS staff split
  • Partners current account balances- what is working capital and why can’t partners draw it all out?
  • Partners capital account balances
  • Superannuation entries within the accounts
  • Pay outs to partners based on accounts figures and danger points
  • New partners – key points to explain
  • Prior shares and prior allocations
  • Tax paid by practice reserved in accounts
  • Key misunderstood points

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Non-members £16.67
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Dorset ICB £8.33
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Hampshire and Isle of Wight ICB £8.33
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Locum Member £8.33