Cash Flow Drought: How to Identify and Deal with It

Cash flow management can be particularly challenging. You need to account for the time lag between cash going out and cash coming in. This requires financial and management discipline, strong internal policies and procedures for billing and collection policies, planning and attention to detail.

10 minute read June 01, 2018 at 12:05 AM
By
Bill Sansone
Cash Flow Drought: How to Identify and Deal with It

Have you ever heard the term “cash is king”? This refers to the importance of cash flow in the overall fiscal health of a business. For small and solo law firms, cash flow is the lifeblood of running the firm.

This premium content is locked for Accounting and Financial Planning for Law Firms subscribers only

ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN Accounting and Financial Planning for Law Firms

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts
Subscribe Now

Already have an account? Sign In Now

For enterprise-wide or corporate access, please contact Customer Service at [email protected] or call 1-877-256-2473.

NOT FOR REPRINT

© 2026 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Continue Reading

Is Your Law Firm’s AI Ready for Answer Engines and Clients?

AI claims are getting more scrutiny and regulators are looking more closely at whether organizations can substantiate what they say their AI does, while courts are beginning to address what happens when AI-generated search summaries get information wrong.

November 01, 2026

When AI Agents Trigger a Crisis, Part 2: Before the Agent Acts

This is the second in a two-part series on AI-driven crises. Part 1 examined communications during an incident while the facts are still developing. Part 2 addresses crisis plans, governance and tabletop exercises before an agent acts on behalf of the business.

November 01, 2026
Centellic Logo

© Copyright 2026 ALM Global, LLC trading as Centellic.

Advertise with Us Customer Support Terms of Service