Are you working on your business, or just in your business?
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Profit Improvement Programme for Solicitors (3 hours CPD)
- A workshop that identifies the problems, pitfalls and potential solutions affecting law firms’ profitability, developed by UK200Legal Group, a specialist sub group of UK200Group, the UK’s leading quality assured member association of independent chartered accountants, and now including lawyers.
Management structure – Solicitors code of conduct in financial, people and risk management
Managing working capital – cash cycle: WIP, debtors, cash
Profitability issues – growth, cost structures, performance indicators fee earners, gearing and management accounts
Where are you going? – the big picture, the big questions
How do you get there?- business planning, professional support, variance analysis, effective IT systems, UK200Legal Group benchmarking and the UK200Legal Group’s financial analyst tool PROFITWATCH TM
SOLICITORS OFFERED EXPERT ADVICE ON IMPROVING PROFITS
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Solicitors firms that want to make the most of their profit potential are being invited to take part in innovative training run by the UK200Legal Group, part of UK200Group, the association of independent chartered accountants and lawyers.
Group chairman Mark Sharpley, a partner at UK200Group member firm Smailes Goldie Chartered Accountants, in Hull and Barton-upon-Humber, says that continuing changes in the legal profession mean that solicitors need to understand effective cash flow management if they are to stay in business.
The UK200Legal Group has now launched the Law Society-approved Profit Improvement Programme, a training course that can help legal firms to operate more efficiently and cost-effectively.
Mark said: “Solicitors, though well qualified in law, haven’t had financial training or management training and in these ever more difficult times, it’s important that all fee earners understand good practice management. The purpose of our Profit Improvement Programme is to show them how to avoid the common pitfalls, to give them more financial understanding, to teach them how to make money and how to understand their cash flow.”
All solicitors follow a code of conduct which specifies the importance of financial controls of budgets, expenditure and cash flow, the continuation of the practice of the firm in the event of absences and emergencies, with minimum interruption to clients’ business, and the management of risk.
The three-hour training course will help lawyers comply with these rules. They will also be given access to a brand new software tool specifically designed by the UK200Group for modern legal businesses and solicitors, which gives reliable forecasts of future cash flow to help with strategic planning.
Mark added: “The Profit Improvement Programme can also be used by solicitors as part of their mandatory Continuing Professional Development (CPD). It’s also worth pointing out that they must make sure they have completed their minimum of 16 hours of CPD per year by the 31st October.”
The Profit Improvement Programme is available only through accredited trainers from the UK200Legal Group.
For more information, please contact Mark Sharpley, Chairman of the UK200 Legal Group on 01482 326916 or Jim Yuill, UK200 Group on 01252 401000.
Established in 1986, UK200Group is the leading mutual professional association in the UK with over 110 UK quality assured independent chartered accountancy firms and lawyer firms, as well as 50 International Associate member firms around the globe. UK200Group provide services and products that are designed to enhance the business performance of its members. Telephone 01252 401050, email admin@uk200group.co.uk or visit www.uk200group.co.uk
