by Richard Wyatt | 31 May 2021 | Articles, Finance, Hi Finance, Our Insights, Review, Richard Wyatt
“Our income is not the same as our fees. Is that wrong?” The problem Most law firms and managers within those firms, such as Department or Team Heads, tend to monitor performance by looking at the fees billed by each fee earner/team/department, or the firm overall....
by Baskerville Drummond | 26 Apr 2021 | Advisory, Articles, Our Insights
David Abrahams FCA is the former Finance Director & COFA of Matthew Arnold & Baldwin LLP and more recently of Howes Percival LLP. He may be contacted at David@DRABS.co.uk or though your usual Baskerville Drummond Contact. In his recent post Richard...
by Richard Wyatt | 15 Mar 2021 | Advisory, Articles, Finance, Hi Finance, Our Insights, Review, Richard Wyatt
“I don’t understand why my firm is profitable and yet we always seem to be up against it with the Bank. We don’t want to be putting in more capital this year so what can we do now to get a grip on this?” Ultimately all a firm’s cash is generated from its fee income in...
by Richard Wyatt | 15 Feb 2021 | Articles, Finance, Hi Finance, Review, Richard Wyatt
“Our issue is, very simply, that we should be making more money than we are, given what I see going on within the business. How do I turn this around?” This problem, or variations of it, is something that I hear almost every week. It goes something along the lines of...
by Richard Wyatt | 30 May 2020 | Articles, Finance, Our Insights, Review, Richard Wyatt
When business slows down or stops and the cash correspondingly also slows down, it is natural – and right – to reduce expenditure. The manager’s job is to manage, not be overtaken by events by failing to respond. Action should certainly be taken and some idea of the...
