This comprehensive, clearly written textbook teaches pharmacy students and pharmacists the basics of financial accounting, management accounting, and finance, and equips them with the financial skills needed in pharmacy practice. The third edition has been thoroughly updated with new content and realistic problems that allow students to apply what they have learned. This edition presents examples from diverse practice settings, including HMO, hospital, and long-term care pharmacies. A new chapter explains how decision analysis can be used to assist and inform decision-making. The significantly revised pricing chapter provides additional consideration to demand and the interaction of unit costs, volume, demand, and price.
Table of Contents
Introduction to Financial Management Financial Statements Preparing Financial Statements Accounting for Inventory and Cost of Goods Sold Financial Statement Analysis Budgeting Cash Budgeting Break-even Analysis Pricing Pharmaceutical Products and Services Differential Analysis Capital Investment Decisions Sources and Uses of Cash Improving Cash Flow Inventory Pharmacoeconomics Decision Analysis Appendix: Answers to Questions and Problems