Financial Management for Law Firms

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A one day workshop designed to provide practical advice and guidance for all those responsible for maintaining and managing the accounts of a solicitors’ practice

​"A very worthwhile day, presented by a knowledgeable and outstanding trainer. Of particular value was the network opportunity to meet with a like minded group able to share the problems and solutions faced in business."    AH London April 2016

Who is it for?

This training is aimed at those who are comfortable with their role as a cashier but may wish to expand their knowledge to include producing information for management purposes, right up to producing a full set of final accounts. It will be especially helpful for those who decide to sit the ILFM Associate Level Exams and have not dealt with underlying and fundamental accounting concepts before.

What will you gain?

  • Management information, how to produce such and to a certain extent, how to interpret is also considered.
  • In depth understanding of why certain items are in certain places including the difference between Asset accounts and Expense accounts.
  • Knowledge of how Profit and Loss Accounts and Balance Sheets are put together.

What will it cover?

  • Budgets -  how to set them, uses and draw backs
  • Cash flows – how to set them up, differences with regard to budgets
  • Credit Control – looking at reporting on such
  • Management of files – WIP, billing periods, fee targets
  • Accounting Concepts – what are they, how are they used
  • What are the Final Accounts – explanation of the entries found in them
  • Producing a Final Set of Accounts – a practical exercise
  • Reviewing a Final Set of Accounts – looking at ratios
  • Open forum discussion

What are the costs?

A full day training,  workbook & full lunch is included.  

Early Bird Savings of 10% (Book 6 weeks in advance)

  • ILFM Members £175.50
  • Non Members £265.50

Standard Price

  • ILFM Members £195.00
  • Non Members £295.00

Not a Member?   You can join to get the generous Membership savings. It's just £97+VAT per year More info or to join..

6 CPD points can be claimed

"Excellent training, extremely well presented and our lecturer was very knowledgeable and friendly. Answered all questions with clear answers and very approachable. I would definitely attend another training session." 

"I highly recommend using this course on a regular basis just to refresh on the accounts rules. It was very helpful and clear in showing the accounts rules and giving examples that were easy to follow."

 

 

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