Ratio Analysis: Your Road Map to a Bigger Bottom Line
In this intensive one-day program, we go beyond the basics to explore strategic financial analysis. When you don’t know where you are, it is difficult to chart a future course. Participants will work with a customized, pharmacy specific case study to learn how to solve the root cause of financial problems–instead of just treating the symptoms. We’ll also show participants how to analyze company performance with financial ratios and how to use industry comparison analysis. A key component of the ratio analysis is the Financial Road Map. This valuable graphical tool will help pharmacy owners see how different parts of a company can drive financial performance. Participants will understand what financial statements really tell them about their pharmacy operation and gain expertise and confidence to take action.
In the first part of the day, we’ll focus on:
- Accounting: basics and beyond
- Understanding your financial position
- Understanding financial ratios and how to use them to analyze the company’s financial performance.
- Pricing analysis
- Gross profit margin analysis
- Return on investment (ROI)
- Balance sheet management techniques and strategies
- Industry comparison analysis: how does your business measure up?
- Tools for active control
The afternoon will be devoted to working with your peers to apply the tools learned earlier to analyze a pharmacy’s financial performance. In small workgroups, you’ll be identifying the company’s strengths and weaknesses, showing the owner the financial impact of certain inefficiencies, and developing goals and action plans for the future. You’ll leave with specific action plans, worksheets, and tools to apply the same techniques to your own pharmacy.
» View the entire calendar of upcoming Profit Mastery programs.