CPD: FINANCIAL SKILLS
Law Firm Profitability

Intended audience:
Solicitors

Duration: 
3 hours

Format:     
Small group workshop

Objectives:
The course aims to provide trainees with a proper understanding of how law firms operate a sense of what is normal, and some practical advice on what they can do to make a positive financial contribution to the firm.

Topics:

  • Introduction and overview
  • Participants use a financial model and case studies to consider the following issues:
    • The levers of profitability
    • Overheads in law firms
    • Lock-up and cash flow management
    • The importance of delegation
    • Improving time capture
    • The importance of pricing work in the right way
  • Participants use a financial model and case studies to consider these issues
  • Action planning and conclusions

Outcomes:
Participants will:

  • Understand the levers of profitability, lock-up and cash flow
  • Be reminded of the importance of effective time recording
  • Appreciate the need to help with the generation of cash as well as the generation of profit

Training Team

Module Leader
Andrew Dines

Fresh Professional Development  Ltd, The Forum, 277 London Road, Burgess Hill, West Sussex, RH15 9QU
t. 01454 550066, e. info@fdg.uk.com, w. www.freshpd.com © Fresh Professional Development Ltd. 2017

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