Leadership and Management Assignment Please effectively answer the questions listed below: 1). In your own words, briefly describe the importance of each of the following rules of accounting:

-Each transaction must be recorded separately

-Each transaction must apply: Assets=liabilities+owners’ equity

-Each transaction will affect at least two accounts (dual-entry accounting)

-Every transaction must be recorded in such a way that debits=credits

2). Envision a time in your future career as a pharmacist that you will need to develop a business plan for some business endeavor. In one to two short paragraphs, describe the purpose of your business plan, why it is necessary, and also what benefits you hope to see as a result of writing this plan. Leadership and Management Assignment

3). If, as a manager, you could only pick the financial ratio to look at on a weekly/monthly basis, which would it be? 1). Write/type out the equation and discuss (1-2 short paragraphs) why you picked that equation, what information that would give you on your business’ or department’s performance, and how you would use that to better your business/department.

4).Describe, in 1-2 short paragraphs, 1). The purpose of the following types of financial statements, and 2). Why as a leader/manager you must be familiar with them.

-Balance sheet

-Income statement

-Capital statement

5). Ten years from now: you are hired as the new Operations Manager for the department of pharmacy in a local hospital. For the past 3 years, errors have been increasing, employee turnover has increased, and the level of service from the department has dwindled. As an incoming manager, explain in 1-2 short paragraphs what you will do to build employee engagement and therefore help correct the issues that have been plaguing the department.

6). Scenario:

You obtain a position as a community pharmacist in a small town that is owned by a pharmacist who is on the verge of retirement. You have an idea that you want to expand the clinical services of the pharmacy. As a certified immunizer, you decide that you want to implement vaccine services. Utilizing all of the modern four P’s (People, Processes, Programs, and Peformance), describe the marketing plan you would put in place to build these services . (2-3 short paragraphs)

7). Referring to the previous scenario, describe in one to two sentences the cost objects that will be factored into the budget when starting the immunization service. Leadership and Management Assignment