This Practice Note provides information about different ways of measuring financial performance in a law firm. It also provides guidance on how to analyse and benchmark financial data to compare performance against previous years and competitors.
This Practice Note provides an understanding of what might cause a law firm to fail and what the bank will be looking for if it is to continue to support the business with additional finance.
This Practice Note provides an understanding of how to deal with the constant pressure from clients to discount fees. It discusses some creative fee arrangements and looks at how solicitors can learn to negotiate fees with more confidence.
This Practice Note explains why it is so important to improve the efficiency with which work is done and how this can be achieved without diluting quality.
This Practice Note provides information about how to read and understand the financial accounts of a law firm.
This Practice Note looks at some of the most common causes of financial instability in law firms and suggests what needs to be done to ensure problems never develop into crises.
This Practice Note provides guidance on why a law firm might need finance and the ways in which such finance might reasonably be obtained. It also considers how much debt is healthy and when it becomes excessive.
This Practice Note sets out different methods for predicting your annual fee income and expenses.
This Practice Note considers how you might set about improving your staff’s financial awareness so they might be more inclined to, and more skilled at, ensuring you hit your financial targets.
This Practice Note provides an understanding of why management information (MI) is needed and how it should be formatted and distributed to achieve a change in behaviour of managers and improved financial performance.
This Practice Note is intended for law firms. It explains why time recording is so important. It also explores best practice around time recording and considers the impact on write-offs if more time is captured.
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