Finance for Legal Professionals
Lawyers are increasingly required to demonstrate their commercial acumen as they counsel their clients. Our unique ‘Finance for Legal Professionals’ training course will give your legal teams the knowledge and confidence they need to do that successfully.
Tailored to your firm and its unique needs, ‘Finance for Legal Professionals’ offers a bespoke blend of content designed to improve participants’ ability to review, interpret and discuss financial information.
Discover the range of modules to choose from below, and contact us to discuss how we can design a course that fits your organisation and the learning needs of your participants.
Personalised training
We take two practical steps to ensure that our Finance for Non-Financial Professionals courses are tailored to your organisation’s unique needs. First, prior to the start of the course, we ask delegates to complete an anonymous online questionnaire about their perception of finance and the financial challenges they face at work. This then allows us to shape the content of the course accordingly. Second, we offer to incorporate your organisation’s own financial statements and management accounts into our course exercises so that delegates can immediately apply their training to their own situation.
Content and delivery
Based on our understanding of your business needs, we will recommend a blend of modules for inclusion in your course, which we can then deliver over a period of one or two days, either face-to-face on your premises or virtually via Zoom. Possible modules include:
- How business finance works
- Understanding balance sheets
- Understanding income statements and cash flow statements
- Using financial statements
- Analysing financial statements
- The role of budgeting
- Understanding cost behaviour
- Preparing a budget
- Making the numbers talk
Learning outcomes
Depending on which blend of modules is most relevant to your business, your delegates will come away from their training able to:
- Demystify a broad range of business finance terminology
- Clarify the difference between profit and cash flow
- Define the components of a Balance Sheet, Income Statement and Cash Flow Statement
- Calculate financial adjustments such as accruals and prepayments
- Identify the users of financial statements and discuss their needs
- Use ratio analysis to measure and understand profitability, liquidity and efficiency
- Explore the value that budgeting brings to a business
- Consider different approaches to setting budgets
- Analyse cost behaviour to ensure accurate budget figures
- Understand how the components of a budget are put together and managed, including limiting factors and cash budgeting
- Unpack a set of management accounts to ‘make the numbers talk’ and inform business decision-making