NZ Webinar | Law Firm Financial Management 101 – Understanding the Numbers and Making Them Work for Your Firm

Understanding your firm's financial performance is one thing. Knowing how to use that information to make better management decisions is another.

This practical webinar is designed for Practice Managers, General Managers and those responsible for managing the financial performance of their law firms.

What we will cover:

• The three essential budgets: Understanding Profit & Loss, Capital and Cashflow Budgets, how they work together and how to build them using realistic assumptions.
• Building a realistic fee budget: Understanding billable capacity, productivity and the financial impact of seemingly small changes in performance.
• WIP, debtors and lockup: What these measures mean, how to calculate them and why they are critical to cashflow.
• Practical financial benchmarks: Useful rules of thumb for assessing your firm's financial performance.
• Making technology work for you: Using practice management systems, business intelligence and budgeting applications to turn data into useful information.
• Reporting to partners and directors: Identifying what matters, interpreting the numbers and presenting financial information that supports informed decision-making.

This is not an accounting lecture or a software demonstration. It is a practical session focused on understanding the financial drivers of a law firm and using that knowledge to improve performance.

Whether you are relatively new to financial management or an experienced Practice Manager looking for fresh perspectives, you will leave with practical ideas you can apply in your own firm.