Public Interest
Mar. 16, 2001
Budget Balancing Need Not Be an Arcane Art
Some law firms do little planning, if any, when it comes to projecting future income and expenses. They have neither budgets nor cash flow projections. Operating without a budget and projections is foolish, however. A budget should be used as a goal and be divided into two areas - revenue and expenses - from which profits and a profit margin can be calculated.
Some law firms do little planning, if any, when it comes to projecting future income and expenses. They have neither budgets nor cash flow projections. Operating without a budget and projections is foolish, however. A budget should be used as a goal and be divided into two areas - rev...
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