Profit Sharing Mechanisms

Central Law Training
Birmingham, Bristol, Leeds, London, Manchester, Plymouth, United Kingdom

Course Format: Classroom | E-learning | Virtual Class | Online | On-site | Blended | Self-paced

Course Description:

'' The range of alternative profit sharing arrangements for partners in legal practice has grown far beyond a traditional lockstep approach and this course aims to assist all those interested in understanding the alternative mechanisms that may be appropriate for their firms. The course is suitable for partners and practice managers, amongst others, and will cover the following:
Why do we need profit sharing arrangements and why might they need changing?
Determining profit in the first place - how different accounting policies and practices influence total profit
The use of different types of partners: fixed share, salaried, equity (including discussion on the implications of becoming an LLP)
Profit sharing mechanisms - 1st shares such as salary, interest, car, life insurance - Sharing the balance
Equal
Lockstep
Modified lockstep
Eat what you kill
Partner votes
Identifying partner targets through appraisal and linking these to profit shares
Wider profit sharing with staff
Cashflow implications of profit sharing - Capital requirements - Realistic borrowing - Monthly drawing levels and payment of tax - Timing of distributions
...''

Phone:+44 (0)121 355 0900

School Address:

Central Law Training Ltd
Wrens Court
52-54 Victoria Road
Sutton Coldfield
West Midlands
B72 1SX
United Kingdom

Jobs & Resumes: Birmingham, Bristol, Leeds, London, Manchester, Plymouth
Houses & Roommates: Birmingham, Bristol, Leeds, London, Manchester, Plymouth

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