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“How to start and run a successful optical practice” is a fantastic book for anyone who is running an optical practice and for those who are considering setting new one.
It has been reviewed by many opticians and industry specialist and rated as invaluable.
The book has been written by Opticians Specialist Accountant Mr Usman Sial who has considerable experience in providing advice to opticians on their financial and taxation matters. His wide-ranging experience enables him to work closely with optical practitioners, to help them meet their specialist needs, including the facilitation of budget, cash flow forecasts, drawings calculations and advice on optician related VAT issues.
The book is aimed at guiding opticians on financial aspects of practice. It is aimed at the understanding and proper management of a successful accounting system in an optician’s practice. It will start off by discussing various legal structure for optical practices and their tax and profit implications. Moving on, you will find some information on choosing the right location to start the practice and online presence. After this, you will land at a very crucial aspect of starting an optician practice, which is the cost of starting the practice. The chapter will give you sufficient information about common initial costs of a new practice.
The next chapter will discuss various sources from which a practice can draw income, and help you in establishing the direction of your practice.
The management of money is critical to sound decision making which can help in expanding the practice. Proper record keeping helps you in identifying which areas are incurring more costs, which sources are providing more income, which area is being neglected and so on and so forth. Hence, the understanding you will get from financial management and record keeping chapters will help you in managing your finances efficiently. In the last part, you will find out about VAT regulations for optician’s practice, its rates, methods of calculation and other relevant information.
Overall, this book will give you a comprehensive overview of the accounting system for a successful optical practice.