Practice Management Flashcards
(5 cards)
1
Q
To start an Architecture practice you need…
A
- to be registered
- practice needs to have a nominated architect
- have PI insurance
2
Q
Important practice requirements
A
- insurances
- office manuals
- money for capital expenditure
- understanding of tax, compliance, super, employment agreements
- marketing
3
Q
Practice budget tells you..
A
How much income you should be targeting each month
4
Q
Practice cash flow includes…
A
List of projects
Program projections
Monthly turn over
5
Q
Different practice structures
A
Sole practitioner
Partnership
Company
