Pharmacy Finance and Management

Dr Terry Maguire

Basic Accounting 1. Types of accounts 2. Goodwill 3. Depreciation – consistency concept 4. Accounting terms 5. Calculating depreciation 6. Dual entry accounting Buying a Pharmacy 7. Buying a pharmacy 8. Business planning 9. Interest payment 10. Borrowing money 11. Assessing accounts 12. Limited liability company 13. Gross profit 14. Pricing policy 15. Stockholding 16. Reasons for selling a pharmacy 17. Bank loan interest 18. Personal monies introduced 19. Fixtures and fittings Running a Pharmacy 20. Profit on return 21. Part-time employees 22. PAYE tax codes 23. PAYE 24. Pregnant employee 25. Statutory maternity pay 26. Continuation of employment 27. Statutory sick pay 28. Claiming back SSP 29. Claiming back SMP 30. Value Added Tax (VAT) 31. VAT explained 32. VAT – zero-rated goods 33. VAT – making returns 34. VAT – zero-rated items 35. VAT on locum fees 36. Meals as business expenses 37. Staff Christmas bonus 38. Staff redundancy 39. Staff purchases 40. Staff interview 41. Sex discrimination 42. Staff induction 43. Stock management 44. Stock turnover ratio 45. EPOS system 46. Short items of stock 47. Cost of display 48. Over stocking 49. Stock turn 50. Marketing in pharmacy 51. Competing on cost 52. Pharmacy mission statement 53. Advertising costs 54. Merchandising 55. Staffing levels 56. Staffing levels II 57. Locum pay 58. Work clothing 59. Keeping accounts 60. Reconciling accounts 61. Monthly prescription summary sheet 62. NHS payments 63. Calculating advance payments 64. Out-of-pocket expenses 65. Partnerships Personal Finance 66. Tax for self-employed 67. Pension plans for wives 68. Selling a business 69. Transfer of capital gains to wife 70. Child minding 71. Claiming for home expenses 72. Conference expenses 73. Professional expenses/examination fees 74. Inheritance Tax 75. Inheritance Tax management 76. Medical insurance policies 77. Tax and marital separation 78. Taxation on pensions 79. Tax-free investments 80. Wages for wife 81. Income Tax – self-employed 82. Maternity benefit – self-employed 83. National Insurance Contributions (NICs) 84. Locum fees – PAYE pharmacists 85. Company cars 86. Partnerships 87. Tax relief on wife’s car