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By Huw Nicholls

30th March 2024

FRS 102 – what are the proposed changes?

FRS 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland is evolving. The changes on the horizon are likely to be significant.

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By Whitney Whitfield

26th March 2024

Steps to take when a law firm cannot avoid insolvency

Several issues can lead to a law firm’s financial instability, and in some cases, actions can be taken to improve performance. However, sometimes a firm’s debt is just too large to make survival possible. What are the next steps? 

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By Armstrong Watson

20th February 2024

7 common accounting issues for law firms and how to improve financial records

During the annual accountants processes to prepare financial statements, tax computations and returns for law firms, there a several accounting adjustments that tend to be most common. These adjustments are necessary to ensure the annual accounts produced are accurate and show the true financial performance of firm.

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By Huw Nicholls

12th December 2023

10 steps to make the audit process easier for law firms

Law firm finance teams will often talk about the challenges that an audit brings but there are steps that can be taken to make the process as efficient as possible.

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By Armstrong Watson

2nd December 2023

Optimising partner capital and lock-up in professional firms

Partners of professional firms need to be thinking about lock-up management all the time, not just as they head for retirement. 

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By Ed Connell

15th November 2023

How law firms can avoid financial distress

There are several ways a law firm can find itself in financial distress. Knowing how a firm might fail and how this can be avoided will ensure you identify issues and take appropriate action to improve your business’s financial performance.

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By Andy Poole

3rd October 2023

An interview with... Simon Luke, Country Manager at First AML

Andy Poole interviews Simon Luke, Country Manager for anti-money laundering (AML) technology platform First AML. Andy and Simon explore the common mistakes law firms make with anti-money laundering, developments in technology in the AML landscape and quick wins that firms can make to their onboarding processes.

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By Andy Poole

28th September 2023

5 things to consider when selling your law firm

If you are looking to sell your law firm, here are five considerations to help you generate the best result and avoid issues along the way.  

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By Huw Nicholls

21st September 2023

Non-lawyer law firm ownership: ABSs to be introduced in Scotland

Since early 2012, ABS (Alternative Business Structure) licences have been granted by the Solicitors Regulatory Authority in England and Wales. Nearly 12 years later, the introduction of a similar relaxation in Scotland may be about to happen later this year.

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By Armstrong Watson

29th August 2023

Will changes to financial reporting affect the value of my business?

The value of your business could be significantly impacted as a result of proposed changes to accounting standards.

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