Law.com Subscribers SAVE 30%

Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.

Search

We found 2,077 results for "Accounting and Financial Planning for Law Firms"...

Financial Considerations That Involve Your Partnership Agreement
Is becoming a Partner still a realistic expectation in most large firms?
Financial Considerations That Involve Your Partnership Agreement
Becoming a firm partner has long been the unquestioned goal of most lawyers. But in today's large law firms, with many hundreds of partners, is this still a desirable goal when a given partner's voice may have little influence over the direction of the firm, and when a partner's income is determined by a "compensation committee" that lacks transparency?
10 Proven Strategies To Effectively Implement the Two-tier Partner Structure
This article describes 10 proven strategies that we have recommended to clients to effectively implement the two-tier partner structure.
Subjective And Objective Compensation Systems
As we sift through the results from our recently published Partner Compensation System Survey, the data draws us to consider a wide variety of questions about this vitally important management and leadership system. While the majority of our survey respondents report using some form of subjective system, about 15% of the firms report that they use a purely formulaic/objective system.
How Not to Fail On Execution
According to the Gartner Group, 70% of outsourcing engagements fail and 90% do not meet their financial goals.
Sales Speak: New Opportunities in the Legal Industry
Research over the past four years is showing a slow-moving upward trend of law firms hiring professional sales people. This trend spans all sizes of firms, from small to global.
Restrictive Covenants and Partnership Agreements
This article examines the ethics of common partnership restrictive covenants, and suggests ways for firms to ethically protect the firm's interests.
Alternative Fee Agreements
There have been a spate of reports the last few months on alternative fee agreements, or AFAs as they are also known. Subsequently these have stirred a tremendous amount of conversation in the industry. Some of the conversation is helpful, some of it is constructively critical, and some of it is quite simply confusing.
Taking Control of Your Partner Education Program
After three years of law school, hours spent studying for the Bar exam, and many years toiling away at the associate ranks, new partners often believe that there is nothing new they need to be taught about being a principle of a law firm. The resistance to spending time in a classroom is palpable. It is viewed as tedious and, since partners are rarely compensated for learning or personal development, they are less inclined to "waste" their time.
Year-End Benefit Planning and Accounting Treatment
A '79 group benefit plan has funding and timing opportunities similar to qualified plans without the added expenses and discrimination testing of '401(a)-type plans. The reporting at the employer level is less complex and draconian. Nevertheless, as with all accounting issues, it is up to the employer's accountant to interpret FASB statements and opinions, and make the final decision as to how individual transactions are reflected on the employer's financial statements.

MOST POPULAR STORIES

  • Coverage Issues Stemming from Dry Cleaner Contamination Suits
    In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.
    Read More ›
  • Strategy vs. Tactics: Two Sides of a Difficult Coin
    With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
    Read More ›
  • New York's Guaranty Law Continues to Divide Opinion
    This article discusses the recent developments surrounding the constitutionality of New York's Guaranty Law. In particular, we address the Southern District's view that the statute is unconstitutional and the splintered view of the statute's constitutionality expressed by New York State courts.
    Read More ›