[Last month, in Part One, the author introduced the overall challenge of fiscal management in a law firm, and explained key metrics for understanding cash flow, cash gaps and revenue (collected fee receipts).]
Managing Fiscal Fundamentals
In Part One, the author introduced the overall challenge of fiscal management in a law firm, and explained key metrics for understanding cash flow, cash gaps and revenue (collected fee receipts). This article's explanation of key performance metrics for law firms continues with measures for productivity, pricing and profit margin. We'll conclude with a brief discussion on where to focus in addressing profitability concerns, plus a few general comments on the effective use of numerical results in the larger context of organizational management.
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James D. CottermanThis premium content is locked for Accounting and Financial Planning for Law Firms subscribers only
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