1. Measure and report what matters Peter Scott Consulting www.peterscottconsult.co.uk

2. What is the purpose of financial measurement and reporting? PETER SCOTT CONSULTING

3. To provide clear information to those running the business to enable them to: - Know what is happening / will happen in the business - Make decisions based on sound knowledge - Take effective action PETER SCOTT CONSULTING

4. Financial measurement and reporting - create KNOWLEDGE - manage RISK PETER SCOTT CONSULTING

5. Risk and Knowledge Management Risk Management Knowledge Management

6. Financial measurement enables you to manage performance PETER SCOTT CONSULTING

7. If you cannot measure it, you cannot manage it. PETER SCOTT CONSULTING

8. Is your financial measurement and reporting helping or preventing you achieving your objectives? PETER SCOTT CONSULTING

9. How do you use financial information? PETER SCOTT CONSULTING

10. Financial management - whose responsibility is it in a law firm? PETER SCOTT CONSULTING

11. Do you produce data or information? PETER SCOTT CONSULTING

12. Avoid financial information overload PETER SCOTT CONSULTING

13. In a law firm what needs to be measured - and why? PETER SCOTT CONSULTING

14. What matters? -How can we measure the financial performance of each part of our firm? -How profitable / loss making are our clients? -Which parts of our firm generate good cash flow or soak up cash? PETER SCOTT CONSULTING

15. Are you measuring and reporting what matters? PETER SCOTT CONSULTING

16. Is there anything you should measure which you do not currently measure and report on? PETER SCOTT CONSULTING

17. Do you / your people use everything you measure / report? If not – why do you measure it / report it? PETER SCOTT CONSULTING

18. Your key performance indicators? PETER SCOTT CONSULTING

19. Test your KPIs Why do we produce this information? Does it tell us what we need to know about our business? What does it not tell us about our business? Do we ever use this information? If not then why do we produce it? PETER SCOTT CONSULTING

20. Real time or historical information? PETER SCOTT CONSULTING

21. Your priority financial outcomes? How to measure and report what matters to achieve those outcomes PETER SCOTT CONSULTING

22. Your desired Outcomes? - Accelerating cash flow? - Improving profitability? - Building performance? - Effective business development? - Managing your risks and compliance? - Others? PETER SCOTT CONSULTING

23. How to ensure the most effective use is made of your financial reports to achieve required outcomes? PETER SCOTT CONSULTING

24. “I don’t have a clue about the financial reports I receive” PETER SCOTT CONSULTING

25. Do your partners / other fee earners have financial knowledge gaps? Do they understand why you provide them with financial reports? Do they understand why you are asking them to take a certain action? PETER SCOTT CONSULTING

26. Is it enough just to provide reports – or do you need to do more? PETER SCOTT CONSULTING

27. Who needs what? PETER SCOTT CONSULTING

28. Hard copy or available on line? PETER SCOTT CONSULTING

29. Frequency of reporting? PETER SCOTT CONSULTING

30. Inaccurate reports destroy credibility PETER SCOTT CONSULTING

31. Would a financial education programme for your firm help to achieve desired outcomes? PETER SCOTT CONSULTING

32. Your financial measurement and reporting ACTION PLAN? PETER SCOTT CONSULTING

33. What are you going to take away from here today and put into action? PETER SCOTT CONSULTING

34. Any questions? PETER SCOTT CONSULTING