Course- Financial Management.

(1)

1

Course- Financial Management….

PHAR 4233

Semester/Year: Spring 2013 Course dates2/2/2013-2/27/2013…

Lecture Objective Template

Lecture #1/2

Instructor: Roland Patry Origination: Amarillo

Date/time: 10:00 AM 1/3/2013

Lecture/Name Topic:

Introduction to Financial Management and Accounting

Lecture Objectives:

1.

Understand the purpose of accounting and accountings relationship to the business of pharmacy.

2. Understand transactions and know how to set up a chart of accounts, general ledger and understand the accounts that make up both.

3. Learn the Balance Sheet, the balance sheet equation and the accounts that make up the balance sheet.

4. Learn the Income Statement, the Income Statement equation and the accounts that make up the income statement.

5. Understand the mechanics of the double entry accounting system, the account and posting transactions to accounts, debit and credit.

Lecture #3

Date/time: 10:00 AM January 4, 2013

Lecture Name or Topic: Linking Transactions to Financial Reports Lecture Objectives

1. Demonstrate the calculation for Net Sales

2. Demonstrate the calculation for Cost of Goods Purchased

3. Demonstrate the creation of simple balance sheets and income statements Lecture #4/5

(2)

2 Lecture Name or Topic: Summary of Basic Accounting Concepts

1. Describe basic concepts and principles of accounting

2. Memorize and demonstrate the structure of Balance Sheet & Income Statement equations 3. Define Primary accounts for assets, liabilities, revenues and expenses

4. Define owner’s equity Lecture #6

Date/Time: 10:00 AM January 10, 2013

Lecture Name or Topic: Summary of Basic Accounting Concepts Lab Lecture Objectives:

1. Demonstrate entering the pharmacy’s transactions into the accounting records. Lecture #7

Lecture Name or Topic: Introduction to Non-Prescription and Prescription Pricing Lecture Objectives:

1. Define various pricing terms

2. Compute mark-up on cost and retail 3. Define a professional fee

4. Describe various methods of 3rd party pricing

Lecture #8

Lecture Name or Topic: Introduction to Merchandise Pricing & Marketing Models Lecture Objectives:

1. Define various pricing terms

2. Compute mark-up on cost and retail 3. Define a professional fee

4. Describe various methods of 3rd party pricing Lecture #10

Instructor: Joel Epps Origination: Amarillo

(3)

3 Lecture Name or Topic: The Rules of Depreciation

1. Understand what constitutes a depreciable asset.

2. Demonstrate the calculation of three different methods of depreciation. 3. Know how to construct a depreciation schedule.

4. Be able to post the entry to record monthly depreciation.

Lecture #12

Lecture Name or Topic: Accounting for Cost of Goods Sold and Inventory Lecture Objectives:

1. Compare and contrast periodic and perpetual inventory systems 2. Describe the cost-of-goods relationship in an Income Statement

3. Describe the source of data and the computation for Cost of Goods Sold

4. Describe and compute the various methods used to place a dollar value on ending inventories Lecture #15

Lecture Name or Topic: Preparing Financial Statements Lecture Objectives:

1. Know how to prepare a trial balance. 2. Understand adjusting entries.

3. Understand how to execute closing entries.

4. Know how to prepare an income statement, balance sheet, capital statement, and sources and uses statement

5. Understand each of the statements and the usefulness to the managers and owners of the company.

Lecture #16

Instructor: Joel M. Epps Origination: Amarillo

Lecture Name or Topic: The Income Statement Lecture Objectives:

(4)

4 1. Explain the income statement equation.

2. Identify and classify the components of the income statement: revenues and expenses. 3. Construct an Income Statement from a listing of accounts.

4. Discuss the differences between an income statement for a service firm and a merchandising firm.

Lecture #18

Lecture Name or Topic: The Balance Sheet Lecture Objectives:

1. Explain the balance sheet equation.

2. Identify and classify the components of the balance sheet: assets, liabilities and owner's e 3. Construct a Balance Sheet from a listing of account balances.

Lecture #19

Date/Time: 10:00 AM February 1, 2013

Lecture Name or Topic: Sources and Uses Statement Lecture Objectives:

1. Identify the components of the Sources and Uses Statement. 2. Develop a statement of Balance Sheet Changes.

3. Understand the sources and uses of cash.

4. Know how to use the information presented in the Sources and Uses Statement. Lecture #20

Lecture Name or Topic: Financial Statements Lab Lecture Objectives:

1. Demonstrate preparing financial statements. Lecture #21

(5)

5 Lecture Objectives:

1. Understand the calculation and use of common ratios used in healthcare financial management.

2. Use ratio analysis to analyze income statement and balance sheet data to detect trends and problems in the business.

Lecture #22

Lecture Name or Topic: Introduction to Ratios Cont. Lecture Objectives:

1. Understand the calculation and use of common ratios used in healthcare financial management.

2. Use ratio analysis to analyze income statement and balance sheet data to detect trends and problems in the business.

Lecture #23

Lecture Name or Topic: Introduction to Ratios Lab Lecture Objectives:

1. Demonstrate the calculation of ratios using an income statement and balance sheet. Lecture #24

Lecture Name or Topic: Improving Cash Flow Lecture Objectives:

1. State the principal of cash flow as a cycle.

2. Be able to explain the basic means of improving cash flow. 3. Apply six means of improving cash flow to a selected pharmacy.

Lecture #25

(6)

6 Lecture Name or Topic: Capital Decision Making

1. Define and give examples of capital budgeting decisions contrasted with operational decisions.

2. Explain the time value of money.

3. Describe the concepts of net present value, annuity and compounding of interest. 4. Use net present value to reject/accept a given investment.

Lecture #26

Lecture Name or Topic: Capital Decision Making, Cont. Lecture Objectives:

1. Define and give examples of capital budgeting decisions contrasted with operational decisions.

2. Explain the time value of money.

3. Describe the concepts of net present value, annuity and compounding of interest. 4. Use net present value to reject/accept a given investment.

Lecture #27

Lecture Name or Topic: Capital Decision Making Lab Lecture Objectives:

1. Demonstrate the capital decision making process. Lecture #28

Lecture Name or Topic: Break-even Analysis Lecture Objectives:

1. Define and Identify fixed, variable, and semivariable costs.

2. Conduct a break-even analysis using the contribution margin approach. 3. Conduct a break-even analysis using the graphic approach.

4. Use break-even approach to project the change in costs and prices. Lecture #29

(7)

7 Origination: Amarillo

Lecture Name or Topic: Break-even Analysis, Cont. Lecture Objectives:

1. Define and Identify fixed, variable, and semivariable costs.

2. Conduct a break-even analysis using the contribution margin approach. 3. Conduct a break-even analysis using the graphic approach.

4. Use break-even approach to project the change in costs and prices.

5. Lecture #30

Lecture Name or Topic: Break-even Analysis Lab Lecture Objectives:

1. Demonstrate a series of break-even analysis given various business scenarios. Lecture #31

Date/Time: 10:00 AM February 22, 2013 Lecture Name or Topic: Budgeting Lecture Objectives:

1.Name and define the types of budgets commonly prepared by pharmacies. 2. Develop simple demand forecasts.

3. Know the steps in the planning process and the development of the operating budget. 4. Identify and analyze budget variances.