Profitability and Law Firm Management

Andrew Otterburn is a chartered accountant and management consultant. He has been advising solicitors since 1989 and runs his own firm, Otterburn Legal Consulting, a specialist management consultancy. He is a regular lecturer on behalf of the Law Society and other professional bodies and his previous publications include Profitability and Financial Management (Law Society, 1998) and Cash Flow and Improved Financial Management (Law Society, 1998).

Part I The pre-requisites of good financial management: managing a law firm; the managing partner; the senior partner and other partners' roles in management; professional managers and chief executives. Part II Understanding the figures: understanding profitability; fees, gearing and salaries; overheads; working capital; management reporting (I); management reporting (II). Part III Improving long-term profitability: developing forward strategy; forward financial planning and budgets; aligning "cost" with the fees you can earn; implementing the plan and managing change.