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Results-Oriented Financial Management: A Step-by-Step Guide to Law Firm Profitability
by John G. Iezzi
Lending Library Number: 57
NOTE: Due to licensing restrictions, the CD that accompanies this book is not available for loan.
Regardless of its size, location, or type of practice, every law firm needs sound, workable financial management practices to weather the bad times and prosper during the good. Unfortunately, most firms can't afford a highly skilled chief financial officer to handle their financial affairs, yet they need to develop a well-organized and well-executed financial plan to reach their financial goals and objectives. This book will help firms in this effort.
This hands-on, how-to book will assist managing partners, law firm managers, and law firm accountants by providing them with the budgeting and financial knowledge they need to make the critical decisions. This newly revised second edition describes the entire financial management process, from gathering a firm's historical data, to preparing and analyzing the overall financial plan. In discussing the different ways to set billing rates, calculate net income, and perform other financial tasks, Iezzi presents many options for the reader. Whether you're a financial novice or veteran manager, this book will help you examine every facet of your financial affairs from cash flow and budget creation to billing and compensation.
Also included with the book are valuable financial models on CD-ROM allowing you to compute profitability and determine budgets by inputting your own data to:
- Prepare annual financial plans
- Calculate billing rates and perform analyses on results
- Perform timekeeper breakeven analysis
- Perform cash flow analysis
- Perform pro-forma calculations
- and much more!
Written by a Nationally Recognized Authority
In this comprehensive, detailed guide, John Iezzi distills his experience and expertise accumulated over 30 years of working in and with the legal profession in a variety of capacities, including CPA, consultant, lecturer, and adjunct professor of law. Most, if not all, of the analysis and methodologies used in the book come from actual, time-tested experiences in his dealings from all sizes and practice disciplines. Iezzi's experience puts current trends into perspective and helps you weigh alternatives in view of your firm's culture and goals. You can formulate and implement a financial model that works for your law firm.
The accompanying CD-ROM contains powerful financial models you can use to examine your existing or proposed financial program from several perspectives. These will help you easily examine and experiment with the variables that effect your firm's profitability, and then determine the mix that works best for you. These valuable tools are available nowhere else, and alone are worth the price of the book!
Today, more than ever, law firms need to ask the tough questions about their financial status. This book will help you provide the answers in a meaningful, workable way.