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GBP44.95
In stock
22 October 2007
Law Society Publishing
9781853285981
Paperback + CD-ROM
234 x 156 mm
192 pages
Profitability and Law Firm Management
2nd edition
Overview
This invaluable guide to improving the profitability and efficiency of law firms has been completely revised and updated.
Andrew Otterburn combines strategic management and financial accounting perspectives to provide a comprehensive treatment. This new and enhanced edition offers:
- personal insights from managing partners of leading law firms
- new and updated case studies
- discussion of current topics such as the impact of the Legal Services Bill
- key figures and benchmarks drawn from the most recently available Law Management Section financial benchmarking surveys
- a free CD-ROM containing Lexcel self-assessment forms and practice management standards, departmental business plans, partner perceptions questionnaire and a questionnaire for staff, fee earners and partners, as well as Excel spreadsheets that can be easily customised to assist better financial management.
Contents
Part One - Developing the business in a fast changing world: 1. What is changing;
2. The need for a plan;
3. Structure, market positioning and values;
4. Asking some difficult questions;
Part Two - Managing and motivating your people - and leadership, the key ingredient:
5. Leadership, management and managing change;
6. The key person - the managing partner;
7. Of equal importance - team and departmental management;
8. Professional managers;
9. The senior partner and other partners' roles in management;
Part Three - Understanding the figures: 10. The underlying factors that determine profitability;
11. Gearing and revenue per partner;
12. The main key performance indicators - salaries and overheads as a percentage of revenue;
13. Team profitability;
14. Understanding your firm's cost base;
15. Budgets;
16. Information;
17 Conclusion.
About the Author
Andrew Otterburn is a chartered accountant and management consultant. Over the last 17 years he has advised nearly 200 firms of solicitors in the UK and Ireland. Previous publications include Profitability and Financial Management and Cash Flow and Improved Financial Management (both Law Society Publishing, 1998). He is co-author of the annual benchmarking survey of law firms in Scotland published by the Law Society of Scotland. He was an advisor to Lord Carter's review of legal aid procurement.