The Vital Signs of Firm Profitability
The ultimate objective of law firm management is to create profit for owners. It is the role of a managing partner, management committee, and CFO to understand the elements that impact profitability, identify and improve weaknesses that soften profitability, and capitalize on opportunities to enhance profitability. As firms grow bigger and more complex, data become more valuable. But gathering data means nothing without useful reporting and disciplined review.
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Marc Feigelson, CPA, is a Management Chief Financial Officer at Kaufman Rossin, one of the Top 100 CPA and advisory firms in the U.S.
Steven Davis, CPA, is a Entrepreneurial Services Principal Emeritus at Kaufman Rossin, one of the Top 100 CPA and advisory firms in the U.S.
