GP11-A

Basic Cost Accounting for Clinical Services; Approved Guideline

Provides basic definitions and concepts for cost accounting that will enable laboratory managers and directors to evaluate the costs of producing laboratory results. In contrast to financial accounting, which Provides external financial reports (e.g., for tax purposes, financial audits, and reports to stock-holders) cost accounting measures internal costs in the light of management objectives. Cost accounting is, in the current economic environment, an important management and financial tool for laboratory managers. This guideline describes the conceptual foundations of cost accounting, Provides an overview of various techniques for focusing resources to optimize the benefits of cost accounting, and suggests common applications for calculating costs in laboratory settings. It can also be used as a model for other healthcare services, such as nuclear medicine, nursing, and radiology. Additionally, these healthcare services can apply the common applications provided in GP11-A for calculating costs for their respective operations