Finance for the terrified - M. Grace

A good understanding of the basics of finance is essential in today's increasingly competitive world, especially for the dental practitioner who has to juggle running a business with managing the clinical treatment of patients. Once you know how money works you can plan more effectively (preferably with your own financial advisors) for better profitability and long term security. This book covers the real basics, providing explanations for how money works and how knowledge can be used simply and effectively. The book describes how to understand profit and loss accounts and your balance sheet, how to improve profitability, the difference between costing and pricing, working effectively to a budget and taking control of your financial future. Terms such as depreciation, cash flow forecast, net worth and working capital are demystified. This book is not intended to replace your accountant - but to help you understand what your accountant is talking about so you can work together more effectively.