Accounting and Finance for Medical Professionals

Indian Institute of Management Indore

Indian Institute of Management Indore

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Who should attend

This programme is designed specifically for senior medical professionals and doctors. This programme will be helpful for non-financial professionals who are in the senior management and administrative positions in medium to large hospitals, pharmaceutical industry, and health care services.

About the course

This programme is designed specifically for medical professionals to provide them a comprehensive understanding of the accounting, cost management, financial management, and financial planning concepts. This programme aims to equip medical professionals with important finance and accounting concepts and analytical skills which are relevant in all aspects of finance and investment decision making. At the end of the programme, it is expected that participants will have sound basic finance and accounting knowledge which they can use for their professional (business) decision and personal investment (wealth management) decision.

Healthcare sector in India has shown a profound growth over the past decade. Medical professional play a very important role in the delivery of healthcare services in our country. In India’s healthcare set-up, medical professionals tend to lack expertise in accounting and finance concepts. The lack of accounting and finance knowledge hinders their professional business management decision and make them susceptible to fall for financial lingos used by finance experts, investment advisers, and financial service providers. Medical professionals in general never have a formal chance to read about finance in detail, and it never being a subject that has been taught in their core academic curriculum. Apart from multi-speciality health care facility what makes an important parameter for a successful business venture is the sound knowledge of financial management. Over the last few years, the impressive growth in the private healthcare industry in India accentuates the demand for trained medical professionals with sound finance knowledge. To improve financial performance and accomplish long-term growth objectives, it is important for every medical professionals and healthcare entrepreneurs to have sound knowledge and analytical understanding of important financial concepts.

Objectives

The four-day MDP on accounting and finance for medical professionals specifically designed around the deliverables for enhancing financial analysis expertise of participants. The objective of this programme is to equip the medical professionals with the necessary accounting and financial management skills. The objective of this programme can be broadly categorised into following aspects:

  • To deliver key financial concepts for effective financial decision making
  • To discuss the financial statements and their interpretation for corporate decision making
  • To develop the skill of cash flow statement preparation, analysis and interpretation.
  • To discuss the financial statements and their interpretation for corporate decision making.
  • To understand the use of cost information for strategic decision making.
  • To discuss the cost management principles, life cycle costing, and activity based costing.
  • To familiarise participants with the Indian financial system and regulatory environment.
  • To have familiarity with capital budgeting decision and project investment appraisal.
  • To understand the concept of riak and return analysis for the portfolio investment.
  • To understand the importance of personal finance and investment behaviour.

Content

  • Introduction to Accounting and Financial Reporting
  • Financial Statements: Understanding and Interpretation
  • Essentials of Cash Flow Analysis
  • Principles of Cost Management
  • Life cycle and Activity Based Costing
  • Introduction to Financial Management
  • Introduction to Capital Budgeting
  • Financial Market and Asset Classes
  • Tax Management and Regulatory Issues
  • Understanding Risk and Return Analysis
  • Investment Decision Making
  • Identifying and Managing Investment Risk
  • Asset Allocation and Diversification

Experts

Saumya Ranjan Dash

Dr. Saumya Ranjan Dash has done his Ph.D. from the Indian Institute of Technology Kharagpur. (IIT Kharagpur), India. The topic of his doctoral dissertation is Asset Pricing Models, Financial Market Anomalies and Investor Sentiment: Evidences from the Indian Stock Market. Dr. Saumya Ranjan Dash h...

Debasish Maitra

Debasish Maitra is a faculty in the area of Accounting and Finance. He is a fellow from the Institute of Rural Management Anand (IRMA), India. The topic of his doctoral dissertation is Volatility and Spillover Effects in Indian Commodity Markets: An Empirical Study with A Few Select Commodities. ...

Accounting and Finance for Medical Professionals at Indian Institute of Management Indore

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Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.

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