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When Does Zero Equal More? The Add-In Budget
Readers of a certain age may think that "New Math" has been resurrected and that getting the right answer is not as important as understanding the theory, you can relax.
This article is not about that recent flight of fancy ("the New Math") that mystified parents and a befuddled a generation of school children. Instead, it is about putting more money into the distributable income line on your monthly financial report; how to rethink and profit from your annual budget-planning cycle, which should be underway now and not postponed for January after the "year-end" collection silly season.
|The Add-In Budget Methodology
Most law firms produce an annual budget. In my experience the "new" budget consists of a series of additions to the "last budget." I refer to these as "Add-In budgets" and they are as helpful to firm management as the new math was to the school children of the '90s.
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