Identifying profits (or losses) in the law firm
Section of Economics of Law Practice, American Bar Association, 1988 - Cost accounting - 31 pages
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17 Step ability levers Accounting for Law adjustments and write-offs adjustments—assumed adjustments2 American Bar Association areas of law Arndt Associate B Associate billing adjustments billing and collection bono budgeted Carrying costs chargeable hour client accounting system Client/Area of Law combination method compo Component Profitability Measurement Cost Accounting Cost Assignment/Allocation direct cost rate Economic Profitability Levers Economics of Law firm's Hidden Costs hourly billing rates hourly cost rates HOURLY RATE COMPUTATION hours x Identifying Profits key issue Lake Shore Drive Law Office Law Practice Management Profitability Levers manual matter level Matter-Assignment Method Matter-Orientation matters assigned MEASUREMENT APPROACHES Measuring Component Profitability nomic organizational unit orientation paralegals Partner A Associate planning PROFITABILITY MEASUREMENT TABLE profitability pyramid Rate adjustments Rate and Billing RATE COMPUTATION TABLE Revenue Determination salary Section of Economics sources of profits standard billing value Standard Hourly Cost STANDARD HOURLY RATE timekeeper timekeeper—Table value at standard View This Pyramid work-in