Episode #206 - Managing Finances in a Law Firm

Guest: Leah Miller, Fractional CFO - LNM Financial Services

Leah Miller, Fractional CFO, LNM Financial Services LLC joins Bill Kanasky, Jr., Ph.D. to talk about law firm finances. Leah and Bill define key financial terms such as revenue, expenses, profitability, and talk about the complexities that crop up as a firm grows. Leah shares the guidance she gives her clients on how often they should be looking at their numbers and describes what a Fractional CFO does and how it differs from a CPA or bookkeeper. Leah and Bill also discuss setting goals, managing cash flow, and what lawyers and law firms need to watch out for in their spending.