Financial strategy & management

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Practice notes
Lexcel—assessmentLexcel is the Law Society's practice management standard. It is not compulsory although Lexcel accreditation can be helpful for firms...
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19th May
Practice notes
Contract variationThis Practice Note summarises the law, guidance and practice relating to the variation of contracts and deeds. It explains how a...
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19th May
Practice notes
This Checklist gives an overview of the immigration matters that should be considered on a relevant transfer under the Transfer of...
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Produced in partnership with Jennifer Featherstone of Shoosmiths 19th May
Practice notes
What is diversity and inclusion (D&I)—law firmsThis Practice Note provides a high-level introduction to diversity and inclusion (D&I) and key reasons...
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Produced in partnership with Rachel Brushfield of EnergiseLegal 19th May
Practice notes
Brexit—exiting the EU under Article 50 [Archived]ARCHIVED: This Practice Note has been archived and is not maintained.This Practice Note contains...
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Produced in partnership with Adam Cygan of University of Leicester 19th May
Practice notes
Termination and expiry of contractsThis Practice Note provides an overview of contract expiry and of the different causes of termination and ways to...
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19th May
Practice notes
Supervision of traineesThe requirements when supervising trainees derive from the SRA Codes of Conduct and the SRA’s specific regulatory requirements...
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19th May
Precedents
[ON HEADED NOTEPAPER OF PARTY A][Insert address of Party B][[Insert address of Guarantor]][Insert date]Dear [name of Party B][ and [name of...
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19th May
Practice notes
Brexit legislation trackerThis Practice Note tracks the progress of UK legislation introduced as part of the legislative project associated with the...
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19th May
Practice notes
Tailoring a shelf companyA person wishing to set up a new company has the following options:•they can incorporate a new company in accordance with the...
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19th May
Practice notes
Time off work for antenatal appointmentsAn employer or, where applicable, a temporary work agency or hirer, cannot unreasonably refuse to allow a...
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19th May
Practice notes
AffirmationAffirmation is an indication of the intention to continue with a contract. Affirmation may arise in the case of:•a repudiatory breach of...
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19th May
Practice notes
Introduction to retained EU lawThis Practice Note provides an introduction to retained EU law. It provides an overview of the key definitions and...
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Produced in partnership with Dr. Kieran Laird of Gowling WLG 19th May
Precedents
1Introductions of those present if necessary. Confirm who is taking notes and that copies of the meeting notes will be made available to the...
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19th May
Practice notes
Working with European lawyers—the Registered European Lawyer (REL) regimeAt 11 pm (GMT) on 31 December 2020, the Brexit transition/implementation...
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19th May
Precedents
This Agreement is made on [date]Parties1[insert name of party] [of OR a company incorporated in [England and Wales] under number [insert registered...
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19th May

Most recent Financial strategy & management content

Practice notes
Cash flow and bank financingThis Practice Note provides an understanding of what might cause a law firm to fail and what the bank will be looking for...
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Produced in partnership with Robert Mowbray of Taylor Mowbray LLP 6th Jul
Precedents
Minutes of meeting with fee earner about management information—blankEnd of month 6Actual monthBudget monthActual...
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5th Jun
Precedents
Allocating billing or chargeable hours targets tool—blankOverall billing targetTargetCommentsChargeable hours calculationFee earner[insert fee...
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5th Jun
Precedents
Stress testing financial performance toolPlease click for an Excel version of this Precedent and an illustrative worked example.Basic P&L...
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5th Jun
Precedents
Financial awareness development plan for fee earnersTraineesDevelopment toolTrainee nameDate completedProfessional Skills Course (PSC)—Financial and...
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5th Jun
Precedents

Benchmarking financial performance

Please click for an Excel version of this

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5th Jun
Precedents
Simple team or fee earner management information—blankEnd of month [insert month]Actual monthBudget monthActual...
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5th Jun
Precedents
Key steps to assess the financial performance of your firm—flowchartThis flowchart illustrates the three key steps to be taken to assess the financial...
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5th Jun
Precedents
Analysing fee income, fee—earning capacity and fees per fee earner—worked exampleThere is little point in collecting data on a firm's financial...
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5th Jun
Precedents
Cash and profitability ratio calculations—blankDate of calculations: [insert date of calculations]Current ratioFormulaCalculationResultResult from...
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5th Jun
Precedents
Raw data capture sheet for financial calculations—blankDataSource of dataFigure£Current assetsBalance sheet[insert figure]Current liabilitiesBalance...
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5th Jun
Precedents
Fee income monitoringMonthly fee income generated in [insert year]Fee income generated this month% movement versus previous monthFee income generated...
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5th Jun
Precedents
Maintaining cash levels—self assessmentQuestionYes/NoHave you identified the amount of capital the business will need over the next five years?Have...
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5th Jun
Precedents
Fee income prediction tool—blankA: Gut feelComments or observationsGut feel income predictionB: TrendsDataYearFee income £% increase on preceding...
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5th Jun
Precedents
Cash and profitability ratio calculations—worked exampleCash and profitability ratio calculations—Current ratioFormulaCalculationResultResult from...
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5th Jun
Precedents
Analysing fee income, fee—earning capacity and fees per fee earner—blankThere is little point in collecting data on a firm's financial performance if...
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5th Jun
Precedents
Minutes of meeting with fee earner about management information—worked exampleEnd of month 6Actual monthBudget monthActual YTDBudget YTDAction...
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5th Jun
Precedents
Preparing a cash flow statement for bank finance: cheat sheetPreparing a cash flow statement:Yes/NoDo not use accruals accounting in the cash flow...
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5th Jun
Precedents
Time recording FAQsFAQsThese FAQs supplement our Time recording policy, which can be found [in our office manual OR on our intranet].What is...
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5th Jun
Precedents
Simple team or fee earner management information—worked exampleEnd of month [insert month]Actual monthBudget monthActual YTDBudget YTDChargeable hours...
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5th Jun

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