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Our Legal Sector specialists will prepare your bespoke fianancial forecast using our own detailed forecasting model based upon utilisation and recovery levels of specific fee earners at specific times of the year; and debtor days and WIP days of departments.
This allows a more scientific approach to be taken in determining fee income and cash collection levels. It also allows an assessment of recoverable WIP to be made on a monthly basis, something that law firms should be monitoring and the banks are certainly interested in.
We prepare financial forecasts to help law firms with:
Fully integrated three year cash flow, profit and loss and balance sheet forecasts together with a detailed assumptions document explaining the reasoning behind the figures.
This service will benefit all law firms of any size in all locations.
You will need to provide information requested by us. Pre-agreed partners and staff will need to attend meetings and interviews.
On-site interviews. Presentation of draft forecast. Issue of final financial forecast.
Detailed forecast £4,850 plus VAT for firms up to 50 people. Simple forecast £1,850 plus VAT for firms up to 50 people. Bespoke costs agreed for larger firms.
Armstrong Watson prepares a vast number of financial forecasts for clients for a variety of reasons.
To find out more about how we can help you or your business, contact one of our Legal Sector Specialists above.
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Armstrong Watson LLP is a limited liability partnership registered in England and Wales, number OC415608. The registered office is 15 Victoria Place, Carlisle, CA1 1EW where a list of members is kept. Armstrong Watson LLP is regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. Unless otherwise indicated, either expressly or by the context, we use the word “partner” to describe a member of Armstrong Watson LLP or an employee of Armstrong Watson LLP in their capacity as such.
Armstrong Watson Audit Limited is registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales. Registered as a limited company in England and Wales, number 8800970. The registered office is 15 Victoria Place, Carlisle, CA1 1EW.
Armstrong Watson Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. Firm reference number 542122. Registered as a limited company in England and Wales, number 7208672. The registered office is 15 Victoria Place, Carlisle, CA1 1EW. Armstrong Watson Financial Planning & Wealth Management is a trading style of Armstrong Watson Financial Planning Limited.
Armstrong Watson Trustees Limited is a limited company registered in England and Wales, number 84495656. The registered office is 15 Victoria Place, Carlisle, CA1 1EW.