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Turnover versus profit: the new assistant's guide to practice finances
Author(s) -
Shield Christine
Publication year - 2005
Publication title -
in practice
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.211
H-Index - 25
eISSN - 2042-7689
pISSN - 0263-841X
DOI - 10.1136/inpract.27.5.275
Subject(s) - profit (economics) , business , rest (music) , for profit , labour economics , public relations , operations management , economics , finance , medicine , political science , microeconomics , cardiology
IT is easy to understand why, as a new assistant in practice, you might become disillusioned: you see clients paying £700 for the work that you do in a day, but only receive, say, £60 of that money in your pay packet – with the rest, you imagine, going straight into your employer's pocket. Practice finances are, in fact, rather more complicated than that; here, Christine Shield explains just how much turnover must be generated before the true profit is made.