Law firms are home to unique financial and budgeting considerations. Examine the fundamental accounting and financial management concepts essential to the legal professional, including firm business concepts and terminology applicable to professional service firms; the fundamentals of law firm financial statements, cash management, trust accounts and client costs; management and profit center reporting; alternative business entities; ownership compensation models; alternative/appropriate fee arrangements; and legal process/legal project management. 

Learning Objectives

1. Define the core concepts associated with accounting conventions and terminology
2. Articulate financial statement information
3. List the critical rules related to client trust account controls
4. Analyze ways to improve revenue and control expenses in an effort to improve profitability 
5. Identify the advantages and disadvantages of your business entity ownership type 
6. Determine how to more effectively align value to price and how to adopt pricing options
7. Implement legal project and process management improvements

$209 for members and $259 for nonmembers

Available at a discounted rate as a part of a package

Successful completion of this course provides 1 hour of credit for the CLM. It can be applied in either of the following ways:

1-hour CLM application credit for functional specialists in Financial Management
1-hour CLM recertification credit for Financial Management

Successful management is the bedrock of running a successful enterprise — and a huge task! This course will introduce, explain, and provide advice on nine key aspects of legal operations management. It includes advice and input from ALA member Lori Hughes, who is Lead Operations and Information Security Officer at her firm, to guide you with her real-world experience. Throughout the course, you will be encouraged to apply the content to your own legal management experience and current legal operations. Learners will explore, enhance and/or create technology management plans, business continuity plans, and records management plans. Learners will also identify which of their facility services are outsourced and answer key questions about their lease. To cap it all off, you will practice goal setting as you learn techniques for project and time management. At the conclusion of this course, there is a short quiz and a final certificate of completion to mark your accomplishment. 

Topics:

• Technology management
• Business continuity
• Facilities management
• Leases
• Records management
• Time management 
• Project management, matter management and process improvement

Learning Objectives

1. Legal Administrators rounding out their knowledge of Law Firm Management Essentials will identify whether their firm has adequate plans in place for operations management.
2. Learners will create or modify firm plans to account for changing technology and more scenarios.
3. Legal Administrators will name sub-components of operations management: technology, business continuity, facilities, leases, records, marketing, time management and process improvement.

$249 for members and $299 for nonmembers

Available at a discounted rate as a part of a package

Successful completion of this course provides 1 hour of credit for the CLM. It can be applied in any of the following ways:

1-hour CLM application credit in Self-Management Skills

1-hour CLM application credit for functional specialists in Operations Management

1-hour CLM recertification credit for Operations Management