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This invaluable guide to improving the profitability and efficiency of law firms has been completely revised and updated. Andrew Otterburn combines strategic management and financial accounting perspectives to provide a comprehensive treatment. This new and enhanced edition offers: personal insights from managing partners of leading law firms; new and updated case studies; discussion of current topics such as the impact of the Legal Services Bill; key figures and benchmarks drawn from the most recently available Law Management Section financial benchmarking surveys; and, a free CD-ROM containing Lexcel self-assessment forms and practice management standards, departmental business plans, partner perceptions questionnaire and a questionnaire for staff, fee earners and partners, as well as Excel spreadsheets that can be easily customised to assist better financial management.