CASH VS. ACCRUAL & ACCOUNTS PAYABLE AND RECEIVABLE

 

 

Course Description


This 2 week course is designed to help management staff members understand cash and accrual methods as well as provide a basic understanding of accounts payable and receivable.

 

Learning Objectives


Upon completion of the course, the student will be able to:

  • understand the difference between cash and accrual methods of accounting
  • understand the pros and cons of cash and accrual methods of accounting
  • determine which method of accounting is most suitable to your practice
  • understand and apply common accounts receivable policies/procedures
  • maximize your collection efforts; minimize bad debts
  • create and review meaningful accounts receivable reports
  • understand and apply a basic accounts payable filing system
  • minimize cash flow surprises from payable
  • determine whether or not to take advantage of early payment discounts
  • determine the merits of delayed billing

 

Course Content


Topics covered include pros and cons of cash vs. accrual, methods of accounting, collections, tracking account payables, and more.

 

Required Materials


No materials required.

 

Testimonials

...I like this instructor quite a bit - she is interactive and gets back to the students quickly

...Good course, great review of topics. Gave me good reminders of the areas I need to work on within my hospital.

... I found the assignments to be very helpful and relevent to my own learning objectives. I found it helpful to see the other participants assignments as well. This gave me good ideas to implement at my own office. The instructor's feedback was also very helpful.

.. Again gave me a better understanding of the accounting side of the practice and gave me ways to better explain to the doctor about these matters.

... I like reading how the other students handle issues in their practices. I also appreciated the instructor listening to my real life scenarios and giving advice and input.

... It was readily applicable to the veterinary practice and in articular the practice that I am currently working in. The material was easy to read.

 

Student Login Requirements


VetMedTeam courses are asynchronous - they do not contain real time components. Students log in while a course is in session at times convenient to personal schedules.

 

Course Completion Requirements


  • Participation in instructor lead topics for each of the units
  • Grade of 80% or better on the final exam
  • Submission of the course survey

 

Recommended Student Criteria


This course is appropriate for any member of the veterinary practice team who seeks to have a greater understanding of the topics covered.

 

Continuing Education Credits

This course is applicable for 5 CE credits toward the continuing education requirement for the Certified Veterinary Practice Manager program offered by the Veterinary Hospital Managers Association (VHMA).

 

Course Writer


Fritz Wood, a Certified Public Accountant and Certified Financial Planner with contributions by Katherine Dobbs, RVT, CVPM.

 

Upcoming Sessions

 

Pricing

Price: $88.00 USD


Students may enroll in this course after it has begun, up to the enrollment deadline date. Participants who enroll after the start date do not miss out on any components of the course. There are no real time sessions. The design of this course allows each student to proceed based on individual schedule, as long as all assignments are submitted by the assignment submission deadline.

 

In addition, you many use your MERIAL® Rewards Visa® Prepaid Card to pay for courses. If you are not enrolled in the MERIAL Rewards program, ask your Merial Sales Representative or call 1-800-307-7000. If you do not have enough points and wish to supplement your payment with another card, please write to CE@VetMedTeam.com.