ACCOUNTING HANDBOOK FOR MEDICAL PRACTICES.
ISBN # 0-471-37009-6
Published by John Wiley & Sons, Inc.
Reviewed by Imran Rana, EA, CFP
This is a good reference book for the accountant and owner of medical practices. More important, it is an excellent resource for the controller of medical practices.
The authors detail and explain how to use management-reporting systems to address many of management's financial concerns. The book explains how the financial accounting and analysis should be applied to medical practices.
The authors reflect on their years of real-life experience working with physicians. They recommend that medical practices conduct periodic internal control reviews designed to alert management to possible embezzlement. The chapter "Internal Control Accounting" lists all necessary internal controls for the practice. Among the examples are forms and worksheets to facilitate comprehension of these ideas.
The chapter "Cost Accounting" covers the 'why' and 'how' in regards to a medical practice in the process of cost accounting analysis so that management is in a better position to negotiate the rates with insurance companies.
In the appendix, there are forms, worksheets and policy and procedures guidelines that can be helpful to any practice that wants to implement these procedures.
Rating: *** Good
|Printer friendly Cite/link Email Feedback|
|Publication:||The National Public Accountant|
|Article Type:||Book Review|
|Date:||Feb 1, 2001|
|Previous Article:||U.S. SAVINGS BONDS -- THE DEFINITIVE GUIDE FOR FINANCIAL PROFESSIONALS.|
|Next Article:||CREDIT RISK MANAGEMENT A GUIDE TO SOUND BUSINESS DECISIONS.|