Profitability

Time
Start: Thursday, July 23, 2009 (9:00am)
End: Thursday, July 23, 2009 (5:00pm)

Price
900.00

Promotion
Bring a guest and receive a 50% discount on second registration

Location
LexisNexis
Four Penn Center
1600 John F. Kennedy Blvd
Suite 1655
Philadelphia, PA 19103

Registration
Register Online 

Course Overview
Over the last decade, business intelligence (BI) has emerged as the approach to understanding, and more importantly to taking control, over a business’ performance.  Over that same time, profitability has become one of the most important topics within law firms, as BI has given firms a much greater ability to measure profit from different perspectives.  A Redwood consultant will explore the tools that are available to a law firm to better understand the drivers of profitability across various dimensions and levels.  This course is delivered by an instructor in a “group-live” environment.

Objectives
At the end of this course, participants will be able to:

  • Name the primary drivers of profitability
  • Understand the uses and differing benefits of cash and accrual-based profitability
  • Analyze profitability from a client, practice group, or attorney perspective
  • Identify the bases of standard and actual costing
  • Perform FTE Analysis
  • Navigate PowerPlay
  • Define and apply the metrics in the Profitability Module


Course Outline

I. Functionality Training

  • PowerPlay Navigational Functions 


II. Review purpose of series

  • The Law Firm Business Model
  • Trends and measures

 
III. Profitability Cube

  • Methodology
    • Cash v. Accrual
    • Standard v. Actual Cost rates
    • Treatment of Partner Compensation
    • Time Value of Money
  • Key Analysis


IV. Curves Cube

  • Derivation of accrual-based profitability


V. Profitability Cube

  • Business Questions
  • Key Analysis

 
VI. Cube Selection

Course Level
This course covers advanced levels in content

Prerequisites
Knowledge of law firm's business
Knowledge of Profit cube modules

Advanced Preparation
None

CPE Credits
8

Course Registration
Redwood offers both public and on-site training

Registration can be done by clicking here, or contacting christopher.katchuk@lexisnexis.com 

To schedule an on-site, send an email request to christopher.katchuk@lexisnexis.com