Financial Management for Practice Managers/Senior Members of larger professional services firms

 

This course is aimed at Practice Managers and senior members of professional services firms, in particular those who are involved in running the business. The aim of this seminar is to take you through some of the more advanced topics in the financial control of your business building on current knowledge. After attending this course you will have a better understanding of the financial impacts of business decisions you are taking and gained skills that allow you to manage your business more efficiently.

 

Topics to be covered include : -

• Professional business environment

• Importance of and control of cashflow

• Planning and budgeting

• Identifying what it really costs you for every hour worked

• Fee bids – how to do them

• Timesheet problems – how to deal with them

• Cost control

• Avoiding losses on projects

• Cost of bidding

• Financial systems/ Software and processes.

• Management Reports

• Revenue recognition on long term projects

• Reviewing contracts

• Managing your auditors and bank relationships

• Effectively managing growth in the business

• Working internationally

• Taxation

• Retirement /Succession Planning