LFME: Financial Management

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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

Key:

Complete
Failed
Available
Locked
LFME Financial Management Word Match
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Select the "View On-Demand Recording" button to begin.
LFME Financial Management Module 2
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Select the "View On-Demand Recording" button to begin.
Financial Management Module 2 Quiz
10 Questions  |  Unlimited attempts  |  7/10 points to pass
10 Questions  |  Unlimited attempts  |  7/10 points to pass
LFME Financial Management Module 3
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Select the "View On-Demand Recording" button to begin.
Financial Management Module 3 Quiz
5 Questions  |  Unlimited attempts  |  3/5 points to pass
5 Questions  |  Unlimited attempts  |  3/5 points to pass
LFME Financial Management Module 4
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Select the "View On-Demand Recording" button to begin.
Financial Management Module 4 Quiz
5 Questions  |  Unlimited attempts  |  3/5 points to pass
5 Questions  |  Unlimited attempts  |  3/5 points to pass
LFME Financial Management Module 5
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Select the "View On-Demand Recording" button to begin.
Financial Management Module 5 Quiz
5 Questions  |  Unlimited attempts  |  3/5 points to pass
5 Questions  |  Unlimited attempts  |  3/5 points to pass
LFME Financial Management Module 6
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Select the "View On-Demand Recording" button to begin.
Financial Management Module 6 Quiz
5 Questions  |  Unlimited attempts  |  3/5 points to pass
5 Questions  |  Unlimited attempts  |  3/5 points to pass
LFME Financial Management Module 7
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Select the "View On-Demand Recording" button to begin.
Financial Management Module 7 Quiz
5 Questions  |  Unlimited attempts  |  3/5 points to pass
5 Questions  |  Unlimited attempts  |  3/5 points to pass
Certificate of Completion
No credits available  |  Certificate available
No credits available  |  Certificate available