Publisher's Synopsis
Financial Management for Solicitors and the Solicitors' Accounts Rules brings together, for the first time, these two highly important areas in one handbook. This is an essential reference source for partners and practice managers in law firms, practising accountants either working in or advising law firms, as well as auditors who deal with solicitors' accounts. In addition, the recommended SAR work programmes are available to download from our website.Part 1: Solicitors' Account RulesContaining all the relevant legislation, this part takes a hands-on approach to the rules by including practical tips and all the testing required to ensure compliance.* Client bank accounts* Interest* Accounting systems and records* Monitoring and investigation by the Law Society* Accountant's report and checklist* Commencement of rules* General rules* Recommended work programmePart 2: Financial Management for SolicitorsThis part concentrates on the areas of financial management which particularly affect solicitors' firms.;Aimed at improving practice efficiency and profitability the following chapters are included:* Partnership capital* Partnership current accounts* Taxation of partnerships* VAT* Taxation of employees and other workers* Cashflows and budgeting* Selection of software
