Profitability and law firm management

This text is designed to help managers identify new ways of making their practices more profitable.

Rather than simply offer general suggestions, the book provides specific plans, which are practical, easy to implement and should help move businesses forward. The book is divided into three parts. The first section demonstrates how management processes and strategic planning directly affect financial profitability.

The second section looks at the key figures and updates the benchmarks, providing a way to measure performance against the competition.

The final section covers important topics such as gearing, chargeable time and hourly rates, profitable and unprofitable work, and working capital. A free CD-ROM accompanies the text. It contains the following time-saving documents which can be modified as appropriate: pro formas for a series of financial reports; a questionnaire - "partner perceptions of their firm"; a business plan structure pro forma; and the Lexcel standard and self assessment checklist.