Cost Accounting Application on the Expansion of the Bhatti Clinic and Balanced Score Card Application

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COST ACCOUNTING APPLICATION ON EXPANSION OF BHATTI CLINIC AND BALANCED SCORE CARD APPLICATION| |
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5/21/2012
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GROUP NUMERICS

TABLE OF CONTENTS
INTRODUCTION1
DR. ZAHID ISHAQ1
SERVICES DELIVERED1
STAFF AT CLINIC1
INCOME STATEMENT EXPLANATION1
REVENUE1
COST OF SALES2
EXPENSES2
EXPANSION OF CURRENT BUSINESS2
ASSUMPTIONS3
DECISION FOR EXPANSION4
BREAK EVEN ANALYSIS4
MARGIN OF SAFETY5
PORTER’S FIVE FORCES MODEL6
Threat of Substitutes:6
Buyer Power:6
Suppliers Power:7
Threat of New Entrants and Entry Barriers:7
Competitive Rivalry in Industry:8
BALANCED SCORE CARD8
Why Implement a Balanced Scorecard at Bhatti Clinic?8
Benefits that Bhatti Clinic Will Reap:9
How to Implement Balanced Scorecard9
FINANCIAL PERSPECTIVE OF BALANCED SCORE CARD9
CUSTOMER PERCEPTIVE OF BALANCED SCORE CARD12
INTERNAL BUSINESS PROCESSES OF BALANCED SCORE CARD13
LEARNING AND GROWTH PERSPECTIVE OF BALANCED SCORECARD14
APPENDIX 1: STRATEGY ROAD MAP OF BALANCED SCORECARDii
APPENDIX 2: PORTER’S FIVE FORCES MODEL FRAMEWORKiii
APPENDIX 3: FINANCIAL CALCULATIONSiv
APPE NDIX 4: HOW CUSTOMER SATISFACTION AFFECTS PROFITxi
APPENDIX 5: QUESTIONNAIRExii

BHATTI CLINIC

INTRODUCTION
Bhatti clinic is a small clinic situated at Tipu Road near Sir Syed School, Rawalpindi. Dr. Zahid Ishaq, solely operate this clinic and examines the patients himself. It is operating since six years. It is an OPD clinic (Out Patient Door) where no patient is admitted. There is a small laboratory within the clinic with a small pharmacy. Medicines are only given with the doctor’s prescription, it is not commercially available.

DR. ZAHID ISHAQ
Doctor Zahid is a well qualified doctor and has performed vast research in several areas. His qualifications include MBBS, B. Pharmacy, DCH and MPH in epidemiology. He has specialized in infectious diseases and has served in National Institute of Health (N.I.H) for more than 15 years. He has also worked in CMH, RGH, Holy family and Poly Clinic. He has several international research papers and journals under his belt on topics related to respiratory diseases. He was a consultant on WHO’s project “cotrimoxazole” (Septran), a research carried out on children about acute respiratory infections. And also worked with WHO on a project related to etiology of diarrheal diseases in children less than 3 years of age. He has also worked with USAID on a research project related to Hepatitis non-A non-B. He also participated in a project sponsored by Board on Science and Technology for International development (BOSTID, a branch of National Academy, USA), on respiratory infection in children under 5 years of age. EPI initiated a project related to Polio antibody titresero conversion in Punjab and Khyber Pakhtoon Khaw, doctor Zahid played a major role in carrying out that research.

SERVICES DELIVERED
The OPD clinic treats patients with basic ailments, infections and refers those with more complicated problems to diagnostic centers and the government hospitals. Doctor never refers to any other doctor instead refers to any facility (CMH, Holy family, Holy Clinic, National Institute of Health etc). This clinic runs daily except for Saturday morning. It serves 7 days a week from 10am to 2pm in the morning and 6pm to 10 pm in the evening from Sunday till Friday and 6pm to 10pm on Saturday. Once the patient is diagnosed for disease and prescribed a medication he can easily get it from the clinic’s pharmacy located within the vicinity. The patients are examined by Dr. Zahid only and given medicines for a nominal fee but if patients are unable to afford this fee, they are given medicines free of charge. Facilities for the dressing of wounds are also available.

STAFF AT CLINIC
The total number of staff at the clinic is five which comprises of two nurses, one compounder, one watchman and one sweeper.

INCOME STATEMENT EXPLANATION...
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