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The Performa of analytical cash receipts and cash payments books relating to the insurance business appears in this page. Any business can modify suitably the proforma depen

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

ding upon its own requirements.

Petty Cash Book

Every business has to make payments involving smaller or petty amount, e.g.. carriage, cartage, cooly hire

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

, postage telegrams etc. Such payments, by their very nature cannot be made by cheques. It is usual for the business units to maintain a separate cash book to record small p

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

ayments only. Such cash book is known as Petty Cash Book. It relieves the main cash book of numerous transactions involving petty sums and also helps in reducing the work-lo

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

ad of chief cashier.

Imprested System

Under this method, petty cashier is provided with a fixed amount of money known as imprested or float which is suffi

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

cient to meet the needs of balancing period. Balancing period may be a week or fortnight or month. At the end of balancing period the petty cashier is given fresh cheque of

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

the amount equal to his payments during the same period. Thus, in the beginning, every time, he will start with the amount fixed : i.e. imprested or float.

Usual method of

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

maintaining petty cash book is to rule it for obtaining analysis of expenditure. The book will have one column on the debit side to record receipt of cash (only from the mai

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

n cashier) and credit side is divided into different columns. Each column is reserved for one particular type of expenditure. Name and number of columns in each case will de

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

pend upon the requirements of the business.

Advantages

(1) Reduces the work load of chief cashier.

(2) Effective control can be exercised over small paym

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

ents because each payment has to be supported by vouchers and vouchers are examined frequently i.e.. at the end of each balancing period.

(3) Saving in labor because each p

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

ayment is not required to be posted in the ledger separately.

Accounting Treatment

The periodical cheques drawn for petty cash are entered on the credit s

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

ide of the cash book and debited to Petty Cash A/c in the ledger. Such amount shall also be entered on the debit side of the Petty Cash Book (for memorandum purposes). At th

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

e balancing period the Petty Cash Book will be analyzed under the different columns provided in it. For each column provided init (except ledger and miscellaneous columns) o

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

ne nominal account is opened in the ledger. Each expense account or nominal account will be debited and Petty Cash Ale will be credited. This should be done by means of jour

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

nal entry. Reason is that here petty cash book is considered to be a memorandum book only.

Analytical or Columnar Petty Cash Book

While recording the tran

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

sactions in petty cash book if all the expenses are analyzed and entries are recorded in cash book on the basis of this analysis. such petty cash book is called 'analytical

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

petty cashbook'. For recording the expenses in this book, whole of the petty expenses are classified into few 'heads' and a decision is taken as to which of the petty expend

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

iture is to be recorded under which head. All expenses are recorded in the books according to the decision. The description of each expenditure is recorded in particulars co

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

lumn but the head of expenditure recorded in separate columns. At the end of period this petty cash book is balanced in the same manner as in case of simple petty cash book.

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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