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RISK MANAGEMENT

The forgotten cause of malpractice claims is poor communication

A great yet often ignored cause of malpractice claims is nothing more than poor client communication…


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BUDGET AND CASH FLOW FORECASTING

Why budgeting and cash flow forecasting are essential for effective law office management

Regardless of your opinion of budgets, they are vital for building and managing a law practice, says Brenda Barnes, a certified public accountant (CPA) and…


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FINANCIAL MANAGEMENT

A guide to understanding financial data

Law practice owners, especially those operating smaller firms, tend not to be super-knowledgeable about…


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INCREASING PROFITS

Some not-so-difficult ways to increase revenue

Need a better bottom line?
Don’t go the way of most firms and start “stripping the heck out of the operating costs.” The real dollars come from…


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INCREASING PROFITS

To see better profits, look harder at where money starts and ends

Profit doesn’t happen without a prod.
Particularly in a tight financial environment, a firm has to know where its money is coming in and…


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RECORDKEEPING

Use weekly financial reporting to keep partners aware of cash flow

A Vermont manager has found that running the financial reports weekly instead of monthly is an easy way for the partners to stay always aware and in control of what’s…


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RISK MANAGEMENT

4 bad financial habits that may increase your policy premiums and your malpractice risk

Ineffective billing and collections practices affect more than the bottom line. They ultimately may determine what the firm has to…


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INCREASING PROFITS

8 signs your firm needs an operations analysis

An operational analysis is an in-depth analysis of the firms’s operations, or, put simply…


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BILLING & COLLECTIONS

To-Dos: Your April office checklist

Here are a few tasks that should be addressed this month…


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