WEBINAR: Increase Profits by Managing Expenses
This session will be particularly helpful to managers who have financial responsibilities within a practice. We begin with a brief overview of the financial statements every practice should produce and review on a monthly basis including the balance sheet, profit and loss and cash flow statements. This provides attendees the background to understand what constitutes variable and fixed expenses when discussed later in the presentation. We also cover some limited budget and benchmark information, which is valuable in managing expenses. • Variable expenses – We will cover various ways to lower variable expenses. • Fixed expenses – We will share various ways to improve return on fixed costs. • Veterinary and non-veterinary payroll – We will review benchmarks and share several cost saving tips to manage or reduce team costs. • Facility expenses – We will review benchmarks and share ways to manage or reduce facility costs. • Miscellaneous – We share several additional miscellaneous money saving ideas. • Sales tax – We discuss sales tax resources and do’s and don’ts. • Tax Tips – We discuss small business tax saving strategies. Upon completion, the attendees will have received numerous money saving ideas. I ask each participant to choose at least two or three of the tips and make a commitment to implement them in their practice to help improve profitability. Speaker: Camala (Cammi Bailey), CPA, CVA Camala (Cammi Bailey), CPA, CVA is founder and President of Camala C. Bailey, CPA, PC-The Veterinary Practice Doctor, a certified Public Accounting firm in Tempe, Arizona. After graduating from the University of Idaho with a B.S. in Accounting she spent several years with national and local accounting firms. In 1998 Cammi formed her own CPA firm focusing on veterinary specific services. Her firm is known nationally for its expertise in veterinary practice accounting, tax planning and preparation, practice valuations, related profit improvement consulting, employee and practice management and advisory services. The mission (and passion) of her firm, is helping veterinary practice owners make sound decisions throughout their career to achieve success in their businesses and lives. Cammi is a Certified Public Accountant and holds a Certified Valuation Analyst designation from the National Association of Certified Valuation Analysts.