Financing Basics
This is FindLaw's Law Firm Management Center's collection of free articles related to Finance Basics, which includes issues like cash vs. accrual accounting and debt collection. Lawyers may not make good accountants, but they should understand the basics of law firm finance if they are running their own firm. Start your research with FindLaw.
Financing a Law Firm
Financing Basics Articles
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With mobile credit card processing through your smartphone or tablet, it's easier than ever to get your legal fees paid by credit card. -
Investors need to beware of Ponzi schemes and exercise their own due diligence to make sure they're not caught up in a "too good to be true" financial fraud. -
This article illustrates how borrowing funds and converting non-deductible litigation expenses into tax deductible expenses has the cumulative dual benefits of creating a larger pool of funds for law firm investment in litigation costs, growth and partner distributions, and reducing the firm's net cost of using borrowed funds. -
Ability to compute complex refund scenarios now available through leading interest calculation software for the legal industry. -
There are two primary types of accounting methods: accrual and cash accounting. -
Equity capital or financing is money raised by a business in exchange for a share of ownership in the company. Ownership is represented by owning shares of stock outright or having the right to convert other financial instruments into stock of that private company. Two key sources of equity capital for new and emerging businesses are angel investors and venture capital firms. -
The balance sheet is a snapshot of the company's financial standing at an instant in time. The balance sheet shows the company's financial position, what it owns (assets) and what it owes (liabilities and net worth). This article describes the elements of a basic balance sheet. -
While poor management is cited most frequently as the reason businesses fail, inadequate or ill-timed financing is a close second. Whether you're starting a business or expanding one, sufficient ready capital is essential. -
Whether you're starting a business or expanding one, sufficient capital is essential. While poor management is most often cited as the reason businesses fail, inadequate financing is a close second. -
During the Federal Trade Commission's recent workshop, "Collecting Consumer Debt: The Challenges of Change," The Commercial Law League of America (CLLA) made a strong statement for change to the Fair Debt Collections Practices Act (FDCPA).