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.
Presentation of draft forecast. Issue of final financial forecast.
Detailed forecast from £5,495 plus VAT for firms up to 50 people. Simple forecast from £2,695 plus VAT for firms up to 50 people. Bespoke costs agreed for larger firms. All services will be provided remotely via video conferencing, however, options are available for face to face if required.
Armstrong Watson prepares a vast number of financial forecasts for clients for a variety of reasons.