Accounting experience not required! Whether you are a partner, an executive director, or a law firm CFO, Law Firm Accounting and Financial Management helps you manage your law firm effectively.
Featuring lucid explanations and illustrative exhibits, the new edition — the most comprehensive and detailed version to date — discusses the latest management, tax planning and accounting strategies for law firms; new information reporting requirements; and special issues affecting multinational firms.
Topics covered include: fundamentals of law firm financial information, with easy-to-understand examples of the data involved; financial management concepts, such as profitability analysis, profit center accounting, budgeting, long range planning, project management and organizing the finance function within the law firm environment; tax planning and reporting, with discussion of compliance, retirement and pension plans; law firm structures, with discussion of the use of umbrella structures by multinational law firms and the issues raised by cross-border practices; and advanced accounting and financial considerations for law firm management.
Advanced topics include: managing risk; pricing strategies, management information reporting; benchmarking; property acquisition; M&A accounting and strategies for successful mergers; capital structures and financing; the uniform task-based management system; and partner compensation.