Law Firm Management Essentials (LFME) Courses

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

    • Define the core concepts associated with accounting conventions and terminology.
    • Articulate financial statement information.
    • List the critical rules related to client trust account controls.
    • Analyze ways to improve revenue and control expenses in an effort to improve profitability.
    • Identify the advantages and disadvantages of your business entity ownership type.
    • Determine how to more effectively align value to price and how to adopt pricing options.
    • Implement legal project and process management improvements.
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     This e-learning course contains seven modules.

      Member Pricing Nonmember Pricing
    Individual Course $209 $259
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