Understanding finance in law firms

Sound financial management is now mandatory! It is the day to day actions of fee earners that have the greatest impact on the profitability and cash flow of law firms; if those fee earners aren’t aware of the implications of their actions, how can the law firm expect to have a positive financial position?”

Understanding finance is a pre-requisite to achieving sound financial management and financial stability. This understanding is required by everybody that has any impact on the workflow, billing and cash flow cycle of a law firm.

That includes fee earners and partners as well as managing partners, heads of finance and the cashier/credit teams.

  • Understanding the working capital cycle
  • Understanding WIP, debtors and lock up
  • Understanding how processes impact cash flow
  • Understanding key performance indicators and financial danger signals
  • Steps to ensure compliance
  • Steps to maximise profitability and cash flow


Peter Scott, Peter Scott Consulting and Andy Poole, Legal Sector Partner, Armstrong Watson

This course will be awarded three CPD points.

Date & Time

Date: Tuesday, 20th January 2015
Time: 13:15 - 16:15


University of Law
15-16 Park Row