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ACCOUNTING HANDBOOK FOR MEDICAL PRACTICES.

By Rhonda W. Sides, CPA & Michael A Roberts, CPA

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
COPYRIGHT 2001 National Society of Public Accountants
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001 Gale, Cengage Learning. All rights reserved.

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Title Annotation:Review
Author:Rana, Imran
Publication:The National Public Accountant
Article Type:Book Review
Date:Feb 1, 2001
Words:201
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