Financial strategy & management

Financial strategy & management guidance:

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...

Practice Note

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...

Practice Note

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...

Practice Note

This Practice Note provides information about how to read and understand the financial accounts of a law firm. Why are financial accounts important? Law firms need to...

Practice Note

This Practice Note looks at some of the most common causes of financial instability in law firms and provides some suggestions on what needs to be done to ensure problems...

Practice Note

This Practice Note provides an understanding of why a law firm might need finance and the ways in which such finance might reasonably be obtained. It also considers how...

Practice Note

Why do law firms need budgets and how might they be structured? Like any other business, a law firm needs some budgets each year so: • it can properly control its income...

Practice Note

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...

Practice Note

This Practice Note provides an understanding of why management information (MI) is needed and how it should be formatted and distributed to achieve: • a...

Practice Note

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...

Practice Note