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ForwardPharmacy Finance 101: A Guide to Key Financial Elements to Facilitate the Success of Your Pharmacy (PFM On-demand)
Brought to you in partnership with the Alliance for Pharmacy Compounding
Please note that this is the on-demand version of the webinar for APC Pharmacy/Facility Members.
The webinar was recorded on January 12th, 2023.
Overview
Pharmacy practice has evolved into a dual role of a provider of healthcare as well as a business to ensure longevity for continual patient care while maintaining profitable outcomes. Understanding your financial information is, therefore, a key fundamental pillar of a successful pharmacy.
This webinar will discuss the key aspects of pharmacy accounting, financial statements, and key performance indicators that you need to know to maximize your bottom line and understand your pharmacy. This webinar will also touch on key tax strategies that you need to consider to help minimize your tax liability and improve your cash flow.
Intended audience
- Pharmacists & Pharmacy Technicians
Learning Objectives
Pharmacists & Pharmacy Technicians
- Recognize the importance of understanding your financial information as a key player in the success of your pharmacy.
- Discuss key elements of pharmacy accounting and financial statements.
- Describe key performance indicators that can leverage your net income and facilitate improved understanding of your pharmacy.
- Identify key tax strategies to consider for helping minimize your tax liability and improve your cash flow.
Hardware/software requirements
| Web browser | Google Chrome (most recent 2 versions) Mozilla Firefox (most recent 2 versions) Internet Explorer v11 Apple Safari (most recent 2 versions) Microsoft Edge (most recent 2 versions) |
Internet connection | Computer: 1 Mbps or better (broadband recommended) Mobile device: 3G or better (WiFi recommended) |
Software | No additional software needed |
Hardware | 2GB of RAM (minimum), 4GB or more of RAM (recommended) |
COPYRIGHT
This webinar is Copyright © Alliance for Pharmacy Compounding 2023.
| Scotty Sykes |  |
With 20+ years’ experience as a Certified Public Accountant (CPA) at Sykes & Company, P.A, Scotty Sykes works directly with pharmacy owners on key accounting, tax, and advisory matters. Scotty’s focus is pharmacy accounting, tax planning, individual tax and corporate tax preparation and advisory for pharmacy owners.
Scotty received a B.S. in Business Administration and M.S. in Accountancy from the University of North Carolina at Wilmington. He then earned his CPA certification in 2011 and his Certified Financial Planner certification in 2019.
Scotty is a member of the American Institute of Certified Public Accountants and North Carolina Association of Certified Public Accountants, and is a corporate member of the National Community Pharmacists Association. He has also published numerous pharmacy accounting and tax-related articles in various publications including America’s Pharmacist and Elements, both of which are official magazines for the National Community Pharmacists Association and the PBA Health organization, respectively.
By registering for this Alliance for Pharmacy Compounding (APC) webinar, you confirm that your information, including contact information, will be shared with APC for direct marketing purposes.
Please note that this webinar is not accredited / does not offer any CE credit.