As an Org Plus Plan subscriber, you have unlimited access to the On Demand training library of pre-recorded training videos. You can watch these as many times as you like at your own leisure. Questions can be posed to trainers during and after the video, with responses being provided within 2 working days. Ensure you’re logged into your account to access.
For non-subscribers and all other plan subscribers, access can be purchased separately.
Managing Cash Flow
Length: 1 Hour
Published September 24, 2022
Last Updated on June 27, 2023
Who is this training for?
This online workshop is for Solicitors, Lawyers, Accountants, Compliance Officers, COFA’s, Legal Accounts Professionals, Legal Cashiers, Credit Controllers and anyone that has any involvement in working in legal finance and compliance.
Purpose of this training?
Cash is the lifeblood of any business. A business needs to generate enough cash from its activities so that it can meet its daily expenses, pay salaries and to have enough left over to repay investors and grow the business. Even a profitable business can run out of cash and a shortage of cash or liquid assets means you can’t pay bills. While a business can fudge its earnings, its cash flow provides an idea about its real health.
You need an accurate picture of your businesses future financial liquidity and obligations at all times so you can make sound business decisions. How much cash is coming in and when? Are clients paying their invoices as quickly as you expected? How much money do you need on hand to pay your employees and suppliers?
This workshop will walk you through the process of accurately predicting a law firms most vital figures. You’ll learn more about liquidity and what affects it and find ratios that are right for your business.
- Understand liquidity and the drags and pulls that affect it
- Learn about the working capital cycle and its impact on cash flow
- Identify the liquidity ratios that are right for your business
- See how a 13-week cash flow forecast can help you make better decisions
- Stress testing
- Collection and conservation of cash
Practice notes and training sessions represent the Association of Legal Compliance & Accounts’ view of good practice in a particular area. They are not intended to be the only standard of good practice that firms can follow.
Practice notes and training sessions are not legal advice, and do not necessarily provide a defence to complaints of misconduct or poor service. While we have taken care to ensure that they are accurate, up to date and useful, we will not accept any legal liability in relation to them.
Frequently Asked Questions
All ALCA online training is delivered live, interactive and is recorded. We bridge the gap between ‘face-to-face’ and online training by applying a blended approach. Questions can be posed to trainers throughout the workshops with quizzes/polls being used to engage with attendees.
Workshops can be continuously replayed for 60 days after broadcast.
Benefits?
- Reduced cost
- Can be taken anywhere on any device – no travel time or cost
- Shorter and more efficient than face-to-face
- Live and interactive
- Recorded and can be replayed at your leisure
Depending on your subscription and the length of the workshop, the pricing is as follows:
Our online workshops are delivered via Zoom. You can access the session via your computer, tablet or mobile device.
Details on how to join the online session will be provided the day before the training goes live.
We recommend you run a system test and check your internet speed by clicking <a href=”https://zoom.us/test” target=”_blank” rel=”noopener”>HERE</a>.
If your firm prevents you from using Zoom, please <a href=”mailto:hello@alca.org.uk”>contact us</a>.
There is no requirement to attend live but we advise that you do where you can as this will be the best experience for you. Don’t forget, you can pose questions live to the trainer and join in with the interaction when you attend live. Also, be mindful that you have access to the recording for 30 days, after which, it will no longer be available.
Not at all. We prefer it if candidates do as it makes the training more engaging but it is not mandatory to turn your camera or microphone on during the training session.
If you don’t have a microphone, you can still pose questions using the chat facility.
