Managerial Accounting and Inventory Management

Catalog description

This course intends to teach essential concepts of managerial accounting and lean inventory management. We will define the components of financial statements and explore their use for strategic decision making. Topics include financial statements, profit and cash flow, financial management and analysis, forecasting, budgeting, leverage, capital, funding, activity-based costing, capital expenditure analysis, TVM, discounted cash flow analysis, and practice valuation. We will also define the costs associated with purchasing, ordering, and holding inventory as related to veterinary practices. Topics include inventory costs, ABC analysis, demand management and forecasting, ordering strategies, safety stock, re-order point, order quantity, distributor specials, and management performance analysis. This course is a prerequisite for the Practice Ownership and Management course offered in 3rd year.