Building a Better Budget (CE Credit)

Budgets are a vital component of any firm’s operations, regardless of size. They increase awareness management gleans about the external economic environment in which their firm competes. But what makes one budget better than another? What are the elements that make a good budget and how can you improve your role in the budgeting process, while adding value to the finished product and to your firm or legal department? To be useful, there are certain elements any budget must have and principles one should always follow when establishing a budget. This CE course will review those elements.

Read the article in Legal Management magazine here. Then, purchase access to the quiz: members pay $49; nonmembers pay $69.

Learning Objectives

1. Explain how to assemble a meaningful budget for your firm.
2. Describe the key elements of a successful budget.
3. Identify how you can improve your role in the budgeting process.
4. Show the importance of involving other departments in the planning process.
5. Examine common budget types.

Members and nonmembers can read the article in Legal Management magazine, then log in to take a test. If you pass with at least 70 percent, you will earn one CE credit hour. 

1 Hour
CLM® Application Credit: Financial Management for Recertification toward the hours needed by Functional Specialists applying for the exam
CLM Recertification Credit: Financial Management