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Understanding Law Firm Finance

2 hours ILT
What you are going to learn

About this course:

Objective:
This workshop provides associates with a clear understanding of how law firm finances operate and provides practical advice on what they can do to make a positive financial contribution to the firm

Intended audience:
Associates

Duration:
2 hours 
Topics:
  • Introduction and overview
  • Participants use a financial model to consider the following issues:
  • The levers of profitability – managing the overheads in law firms
  • Lock-up and cash flow management
  • The importance of effective delegation
  • Improving time capture
  • The importance of pricing work in the right way
  • Funding the law firm model and cashflow management
  • The need to understanding and use financial data
  • The importance of managing and recording time efficiently for effective client matter management
  • Action planning

Outcomes:
The success measures of this course are that participants will:
  • Understand the levers of profitability, lock-up and cash flow;
  • Be reminded of the importance of effective time recording and matter management; and
  • Appreciate the need to help with not only the generation of profit but also cash.

Contact us to find out more

Please complete the form.   We will contact you within 5 working days to discuss course dates and availability.
Thank you!