In this educational (product-agnostic) session, we will cover more than a dozen of the toughest profitability analysis questions that are facing your firm. For each topic we will examine the alternatives and provide Iridium’s best practice recommendation along with mistakes to avoid. This will be an exciting and informative presentation with tons of material. The session is at 9:00 AM Pacific / 12:00 PM Eastern on Tuesday June 23rd. Topics covered will include:

  • Accrual vs. cash basis profitability analysis
  • Tying collections back to the work performed
  • Profitability projections: Optimistic, Pessimistic, and Expected scenarios
  • Expense adjustments for rainmakers
  • What are the benefits of a cube-based profitability solution?
  • Expense assignments for part-time timekeepers
  • Should your profit cube reconcile with your P & L?
  • Residual GL calculations
  • Best practices allocation methods
  • Handling non-timekeeper revenue
  • Reporting on timekeepers that have left the firm
  • Handling non-timekeeper revenue
  • Handling Partner compensation/draws
  • Smoothing techniques for expenses
  • Handling exceptions
  • And more!
  • Special bonus: The #1 factor in a successful profit implementation!

You can register through the ILTA website: here.

 

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