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Dental Practice Accounting 101: Profit Loss Statement and Analysis

• by Paul Lipcius
• September 21, 2020

As the CEO of your practice, you should monitor the financial health of your practice regularly. Your financial reports, if presented properly, can help you do that effectively. You don't need to be an accountant or understand debits and credits. However, you should understand how to interpret the financial reports your accounting firm prepares for you. If your accountant is not a dental-specific accountant, it's likely you'll need to direct them on a proper format of your financial statements so you can use them as a management tool. In this model, we show you how a dental-specific financial statement should be presented to enable you to be a more effective CEO of your dental practice.