The following Practice Management precedent provides comprehensive and up to date legal information covering:
There is little point in collecting data on a firm's financial performance if that data is not used to improve its performance. A firm’s fee income, fee-earning capacity and fees per fee earner are all useful indicators of its current financial performance. This precedent can be used to analyse these indicators and to undertake a modelling exercise to understand the potential financial impact if any of the current variable figures change.
To complete this analysing and modelling exercise you need to follow a three–step process:
step 1—calculate key variables
step 2—calculate and analyse the firms current fee income, fee-earning capacity and fees per fee earner
step 3—undertake a modelling exercise to understand the potential financial impact of adjusting any of the variables
This precedent will assist with steps 2 and 3. It should be used in conjunction with precedent: Variable calculations, which will assist with step 1 of this process.
Please click for an Excel version of this precedent. In this version each worksheet has auto-calculation formulae embedded within it meaning you only need to enter the raw data into the relevant cells/columns and the result will be calculated for you. You will also find separate illustrative worksheets within this spreadsheet showing a worked example of how to calculate fee income, fee-earning capacity and fees per fee
Free trials are only available to individuals based in the UK
Complete all the fields above to proceed to the next step.
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
Take a free trial
MedcoSTOP PRESS: A new RTA small claims protocol for whiplash claims comes into effect for accidents occurring on or after 31 May 2021. The small claims track limit for personal injury claims arising from an RTA is increased to £5000 in respect of general damages for pain, suffering and loss of
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant
Provisional sumsWhat are provisional sums?There is no precise standard definition of provisional sum but it is generally understood to refer to an amount inserted in a bill of quantities, or contract sum analysis, to cover certain items of work that cannot be accurately defined, detailed or valued
Perverting the course of justiceElements of the offence of perverting the course of justicePerverting the course of justice is a common law offence which can only be tried on indictment in the Crown Court. The elements of the offence are:•a person acts or embarks on a course of conduct•which has a
0330 161 1234