Accounting experience not required! Whether you are a partner, an executive director, or a law firm CFO, Law Firm Accounting and Financial Management explains how to manage a law firm practice effectively.

Featuring lucid discussion and illustrative exhibits, this complete guide to management, tax reporting and accounting strategies demonstrates how to: make maximum use of your firm's financial reports; develop a program to improve your firm's profitability; use operating statistics as a management tool; automate accounting and financial information systems; understand partnership tax returns; implement a successful tax planning strategy; use outsourcing to reduce costs and improve quality; address corporate governance issues for merging law firms; plan for opening offices outside the U.S.; create financial models to help your firm choose among alternative strategies; understand risks facing law firms and develop risk management policies; design partner compensation programs; understand retirement planning options through qualified retirement vehicles; establish a long-range plan to control your firm's destiny; and standardize codes for budgeting and billing.

The Fourth Edition includes in-depth analysis of accounting, tax and financial management, international tax, and outsourcing issues that will allow your firm to compete in today's global legal market. This book is an ideal reference for every professional responsible for managing a law firm of any size.