Simple Accounting Worksheet For Midwives Page 3
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21Instructions: Simple Accounting Worksheet
Why are we interested in financial statements?
Financial information provides understanding of what is going on financially in the
business. Financial statements allow midwives to sort through the large amount
information generated by a business, and to organize it in a meaningful way.
These statements provide essential information that enables you to choose
actions that will help direct the business’s activities successfully.
Financial
information is like a map of what is going on in your business. It needs to be
used in decision-making to take action.
“Just like we keep patient records to know how they are doing and to know
whether there is risk of complications and to be able to communicate with
others the status of our patient. We need to keep these records for the same
purposes for our business.”
Jean, Private Midwife Clinic Owner, Quezon City
-
August 22, 2005
Keeping Financial Records
You don’t need to be an accountant to keep financial records, and you don’t need
to hire one! Keeping financial records means organizing and tracking financial
information in a way that is consistent and easy to understand – and preferably in
a way that will enable you to construct financial statements when necessary.
How to Keep Financial Records
– A Step-By-Step Guide for Midwives
Midwife business owners are extremely busy people with a lot of
details to keep track of on a regular basis – details about their clients, details
about their families’ needs and schedules, and details about their businesses.
While many try, it is difficult to keep track of all these details in your head,
particularly when it comes to financial information. When you are ready to apply
for a loan, it is absolutely necessary to begin keeping track of financial
information in an orderly fashion.
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