Key Issues in Effective Profitability Enhancementstatic.alanet.org/AC-2016-PDFs/FM12_Key_Issues_in... · Key Issues in Effective Profitability Enhancement Presented by John G. Iezzi,

May 22-25, 2016 Los Angeles Convention Center Los Angeles, California

Key Issues in Effective

Profitability Enhancement

Presented by

John G. Iezzi, CPA

FM12

5/23/2016

1:45 PM - 3:15 PM

The handouts and presentations attached are copyright and trademark

protected and provided for individual use only.

1

NATIONAL CONVENTION

ASSOCIATION OF LEGAL ADMINISTRATORS

KEY ISSUES IN EFFECTIVE

PROFITABILITY ENHANCEMENT

JOHN G. IEZZI, CPA

IEZZI MANAGEMENT GROUP

LOS ANGELES, CA

MAY 24, 2016

FINANCIAL PLAN (BUDGET)

HOW CLIENTS ARE CHARGED

CASH FLOW

MEASURING PERFORMANCE

QUESTIONS AND ANSWERS

2

SET REALISTIC NET INCOME EXPECTATIONS

DEVELOP YOUR OWN NICHE

BILL FOR WHAT WAS PRODUCED; NOT HOW LONG IT TOOK TO PRODUCE IT

MANAGE TECHNOLOGY

DON’T GET PREOCCUPIED WITH EXPENSES

AVOID FULL TIME HIRING

CLIENTS

RIGHT MIX OF ATTORNYS

ADEQUATE BILLING RATES

REASONABLE BILLABLE HOUR LEVELS

REALISTIC EXPENSE BASE

PROPER FINANCIAL MANAGEMENT

3

CLIENT BASED

CASE BASED

ORDERS A LOT OF WHAT LAW FIRM IS SELLING

PAYS THEIR BILLS IN FULL

PAYS THEIR BILLS ON TIME

4

RECORD BILLABLE HOURS AT STANDARD RATES

EXAMINE DEVIATIONS FROM STANDARD RATES

BILL AND COLLECT ON A TIMELY BASIS

CONTROL EXPENSES

CONSTANTLY MONITOR CASH FLOW

5

RATE REALIZATION – DIFFERENCE BETWEEN STANDARD HOURLY RATE AND RATE ACTUALLY AGREED TO CHARGE (NOT BILL) CLIENT. HISTORICALLY, RATE IS IN THE 92-94% RANGE.

BILLING REALIZATION – COMMONLY REFERRED TO AS “WRITE-UPS OR WRITE-DOWNS”. HISTORICALLY, RATE IS IN THE 94-96% RANGE.

CASH REALIZATION – RELATIONSHIP OF CASH RECEIPTS AGAINST THE STANDARD VALUE OF BILLING TIME. EXPECTATION IS AROUND 80%.

SHSDBUDGETMODEL2015

REALANALYEX

TRACKING REALIZATION ANALYSIS-EXAMPLE

RATE REALIZATION (OR RATE VARIANCE)

ATTORNEY A

STANDARD HOUR RATE 350.00

RATE CHARGED IN T/K SYSTEM 325.00

TOTAL BILLABLE HOURS 50.0

VALUE OF TIME IN T/K SYSTEM 16250.00

STANDARD VALUE OF TIME 17500.00

RATE REALIZATION 0.93

BILLING REALIZATION

AMOUNT IN WORK IN PROCESS 16250.00

ACTUALLY BILLED TO CLIENT 15000.00

BILLING REALIZATION 0.92

CASH REALIZATION

STANDARD VALUE OF TIME 17500.00

CASH ACTUALLY RECEIVED 13500.00

CASH REALIZATION RATE 0.77

6

PFFINFORALAMAY2016

TKREALRATECHT

REALIZATION RATE ANALYSIS

ASSOC A

BILLABLE HOURS 1420.2

HOURLY RATE 300

STANDARD VALUE 426,060

ACTUAL VALUE 396,496

RATE REALIZATION % 93.1

STANDARD VALUE 426,060

RECEIPTS 348,612


PFFINFORALAMAY2016

TKREALRATECHT


ASSOC A ASSOC B

BILLABLE HOURS 1420.2 1584.5

HOURLY RATE 300 300

STANDARD VALUE 426,060 475,350

ACTUAL VALUE 396,496 386,434

RATE REALIZATION % 93.1 81.3


RECEIPTS 348,612 292,584

CASH REALIZATION RATE 81.8 61.6

7

PFFINFORALAMAY2016

TKREALRATECHT


ASSOC A ASSOC B

BILLABLE HOURS 1420.2 1584.5

HOURLY RATE 300 300


ACTUAL VALUE 396,496 386,434

RATE REALIZATION % 93.1 81.3


RECEIPTS 348,612 292,584

CASH REALIZATION RATE 81.8 61.6

ACTUAL PROFIT (-LOSS) 104,257 48,229

PFFINFORALA102707

ASSUMP

ABC LAW FIRM, PC

GROSS INCOME BUDGET

FOR THE YEAR ENDING 12/31/YY

SHAREHOLDERS:

NUMBER 8.0

AVG RATE 250.00

AVG HOURS 1,350

TOTAL HOURS 10,800

TOTAL VALUE 2,700,000

ASSOCIATES:

NUMBER 12.0

AVG RATE 165.00

AVG HOURS 1650

TOTAL HOURS 19,800

TOTAL VALUE 3,267,000

LEGAL ASSTS:

NUMBER 4.0

AVG RATE 75.00

AVG HOURS 1,100

TOTAL HOURS 4,400

TOTAL VALUE 330,000

OTHER 50,000

TOTALS 6,347,000

8

PFFINFORALA102707

ASSUMP2 ASSUMPTIONS FOR FINANCIAL PLAN

RATE REALIZATION 96.0

BILLING REALIZATION 94.0

TIME TO BILL (MONTHS) 2.2

TIME TO COLLECT (DAYS) 65.0

ACCTS RECEIVABLE WRITE-OFFS 150,000

BEGINNING WORK IN PROCESS 750,000

BEGINNING ACCTS RECEIVABLE 700,000

OTHER CASH INCOME 25,000

EXPENSES 3,150,000

PFFINFORALA102707

GROSSNET GROSS TO NET CALCULATION

YEAR ENDING

BUDGET

VALUE OF BILLABLE TIME 6,347,000

RATE VARIANCE -253,880

BILLING VARIANCE -343,563

A/REC WRITEOFFS -150,000

CHANGE IN WIP & AR -625,597

NET COLLECTIONS 4,973,960

OTHER CASH INCOME 25,000

EXPENSES -3,150,000

NET INCOME 1,848,960

SHAREHOLDER EARNINGS -1,760,000

OVER (-SHORT) 88,960

9

SPEED OF BILLING AND COLLECTION

• HOW LONG DOES IT TAKE TO RENDER A BILL AFTER THE WORK HAS BEEN PERFORMED

• HOW LONG DOES IT TAKE TO COLLECT A BILL AFTER IT HAS BEEN RENDERED

• WHAT IS OVERALL LENGTH OF TIME BETWEEN WORK PERFORMED AND CASH RECEIPT

10

PFPROJECTIONSABCD

TURNEFF EFFECT OF CHANGES IN TIME TO BILL

AND TIME TO COLLECT ON

PARTNER AVERAGE INCOME

NET PER PARTNER INCREASE PERCENT

TIME TO BILL:

BUDGET 1.9 247,619

CHANGE TO 1.3 276,917 29,297 11.8

TIME TO COLLECT:

BUDGET 65.0 247,619

CHANGE TO 60.0 257,059 9,439 3.8

CHANGE BOTH:

BUDGET 247,619

TIME TO BILL 1.3

TIME TO COL 60.0 286,844 39,225 15.8

PROFITABILITY MEASUREMENTS

• FIRM LEVEL

• BILLING ATTORNEY

• ORIGINATING ATTORNEY

• PRACTICE AREA

• CLIENT

• INDIVIDUAL TIMEKEEPER

11

12

13

ALMOST 80% OF EXPENSES WILL BE DEVOTED TO COMPENSATION, RELATED BENEFITS AND OCCUPANCY

UNLESS SERIOUS DOWNSIZING OCCURS, 92% OF MOST EXPENSES ARE FIXED AND DO NOT VARY WITH NUMBER OF PEOPLE

MOST OWNERS HAVE AN EXAGGERATED VIEW OF PROFIT IMPROVEMENT THROUGH EXPENSE REDUCTIONS

MOST IMPORTANT CONSIDERATION IS LEVEL OF SERVICE

14

ILLUSTRATIONSFILE

ACCVSCASH

MEASURING ACCRUAL BASIS VS. CASH BASIS

TIME VALUE 6,626,730

EXPENSES 3,494,080

ACC BASIS EXP RATIO 52.7

CASH RECEIPTS 4,390,580

EXPENSES 3,494,080

CASH BASIS EXP RATIO 79.6

15

CALCULATING BILLING RATES

• COMPENSATION

• OVERHEAD

• REALIZATION

• PROFIT EXPECTATION

• BILLABLE HOURS

16

CALCULATION OF RATE FACTOR

AS % OF AS % OF

SALARY BILLING RATE

SALARY 100.0 ?

OVERHEAD 140.0 ?

REALIZATION ? 5

PROFIT ? 30

TOTALS ? 100.0

FACTOR BECOMES MULTIPLIER OF HOURLY COMPENSATION COST TO GET HOURLY RATE

BILLING RATE FORMULA

COMPENSATION X FACTOR

DIVIDED BY

BILLABLE HOURS

85000 X 4.1 = $348,500

HOURS 1,800

RATE $193.61

17

RATE

FORMULA FOR BILLABLE RATE COMPUTATION

ASSUMPTIONS:

COMPENSATION 100,000 COPIES TO FORMULA

OVERHEAD 1.05 105,300 COPIES TO FORMULA

ESTIMATED BILLABLE HOURS 1,786 COPIES TO FORMULA

DESIRED PROFIT MARGIN 25.0 COPIES TO FORMULA

REALIZATION FACTOR 0.08 COPIES TO FORMULA

BILLING RATE ?

COMPUTED RATE 171.61

**Rate Computation** PROFORMA

ANALYSIS

Profit Percentage 25.0 Gross Income 306,418

Realization Factor 8 Less Compensation (100,000)

(Calculation) 67 Less Overhead (105,300)

Expenses 105,300 Less: Realization factor (24,513)

Overhead (x.xx) 1.05

(Calculation) 2.05 Net Income 76,604

(Calculation) 32.64

Profit Percentage 25.00

Value of Factor 3.1

Annual Comp 100,000

Billable Hours 1785.6

Rate 171.61

BILLRATE FORMULA

HOURS

FORMULA FOR BILLABLE HOURS COMPUTATION

ASSUMPTIONS:



ESTIMATED BILLABLE HOURS ?



BILLING RATE 146.00 COPIES TO FORMULA

COMPUTED HOURS 2,099

**Hours Computation**

Annual Salary 100,000

Profit Percentage 25.0 ANALYSIS

Overhead Factor (x.xx) 1.05 Gross Income 306,418

(Calculation) 2.05 Less Salary (100,000)

Realization Factor 8 Less Overhead (105,300)

Calculation 67 Less: Realization (24,513)

Billing Rate 146.00

(Calculation) 32.64 Net Income 76,604

(Calculation) 3.1

(Calculation) 306,418 Profit Percentage 25.0

Hours Required 2,099

18

BILLRATE FORMULAGENERALGRIDALA

HOURS

FORMULA FOR BILLABLE HOURS COMPUTATION-BREAKEVEN

ASSUMPTIONS:



ESTIMATED BILLABLE HOURS ?



BILLING RATE 146.00 COPIES TO FORMULA

COMPUTED HOURS 1,528

FORMULA FOR BILLABLE RATE COMPUTATION-BREAKEVEN

ASSUMPTIONS:



ESTIMATED BILLABLE HOURS 1,786 COPIES TO FORMULA



BILLING RATE ?

COMPUTED RATE 124.97

ALTERNATIVE BILLING

METHODS:

MYTH

OR

REALITY

19

PROBLEMS WITH HOURLY BILLING

SYSTEMS

• TOO EXPENSIVE VERSUS QUALITY ACHIEVED

• ENCOURAGES ADDITIONAL WORK WHEN NOT REQUESTED BY CLIENT OR REQUIRED

• DOES NOT ENCOURAGE LONG TERM LAWYER-CLIENT RELATIONSHIPS

• DOES NOT PROMOTE MANAGEMENT OF FILES OR TRAINING OF ATTORNEYS

INGREDIENTS FOR

ALTERNATIVE BILLING

• SIMILAR ASSIGNMENTS

• PRIOR WORK PRODUCT AND THE TECHNOLOGY TO USE IT

• COST ANALYSIS

• CHANGES IN FIRM CULTURE

20

PROBLEMS IN IMPLEMENTING ALTERNATIVE

BILLING ARRANGEMENTS

• GETTING ATTORNEYS TO TRY SOMETHING DIFFERENT

• GETTING CLIENTS TO TRY SOMETHING DIFFERENT

• BETTER AND MORE EFFICIENT MANAGEMENT OF THE WORK

• SACRIFICING QUALITY FOR EFFICIENCY

• ESTABLISHING NEW BUDGETING SYSTEMS

• REVISING REWARD SYSTEMS

ALTERNATIVE BILLING ARRANGEMENTS

• FIXED FEES

• VOLUME DISCOUNTS

• BLENDED HOURLY RATES

• INCENTIVE BILLING

• MODIFIED CONTINGENCY ARRANGEMENTS

21

BLENDED RATE COMPUTATION

PARTNER 30 HRS @140 $4,200

ASSOC 60 HRS@ $75 4,500

LEGAL ASST 50 HRS @ $40 2,000

TOTAL FEES $10,700

TOTAL HOURS 140

BLENDED HOURLY RATE $77.00

22

PAY EXPENSES

PURCHASE EQUIPMENT

RETIRE DEBT

FUND CLIENT COSTS

PAY THE OWNERS

MONTHLY WORKING CAPITAL

PERCENT OF TOTAL INCOME TO BE PAID BY YEAR-END

PAYMENT OF SUPPLEMENTAL OWNER PAYMENTS

CAPITAL BUDGET

NET INCREASE OR DECREASE IN CLIENT COST ADVANCES

AMOUNT OF DEBT AT END OF YEAR

23

SOURCES OF FUNDS- NET INCOME- BANK BORROWINGS- DEPRECIATION- CAPITAL CONTRIBUTIONS

USES OF FUNDS- OWNER COMPENSATION- DEBT REPAYMENT- FIXED ASSET ADDITIONS- CLIENT COST ADVANCES

PFFINFORALAMAY2016

CSHFLWCHT

ABC LAW FIRM P. C.

STATEMENT OF CASH FLOWS

BUDGETED

NET INCOME 1,848,960

ADD BACK DEPRECIATION 100,000

CASH FROM OPERATIONS 1,948,960

CHANGE IN CLIENT ADVS -75,000

PURCHASE OF FIXED ASSETS -60,000

CHANGE IN DEBT -50,000

CHANGE IN BEG & ENDING CASH BALANCE 5,000

CASH AVAILABLE FOR DISTRIBUTION 1,768,960

SCHEDULED DIST TO PARTNERS -1,760,000

UNDISTRIBUTED PROFITS 8,960

24

25

PFFINFORALAMAY2016

MARGINALINCOME

PROFIT ANALYSIS

ASSUMPTIONS:

ATTORNEY A:

SALARY 70,000

COSTS-FULL OVERHEAD 110,220

BILLABLE HOURS 500

HOURLY RATE 325

STANDARD VALUE OF TIME 162,500

0.95 RECEIPTS 154,375


CALCULATE AT ACTUAL PROFIT

RECEIPTS 154,375

COMPENSATION (70,000)

OVERHEAD (110,220)

NET PROFIT (25,845)

PROFIT PERCENTAGE (16.7)

26

PROFIT ANALYSIS

ASSUMPTIONS:

ATTORNEY A:

SALARY 70,000

COSTS-MARGINAL COSTS

PAYROLL TAXES 5,355

BENEFITS 12,000

MALPRACTICE 4,000

SUPPORT SVCS 20,000

OTHER (CLE, DUES) 10,000

TOTAL MARGINAL COSTS 51,355

BILLABLE HOURS 500

HOURLY RATE 325


0.95 RECEIPTS 154,375


CALCULATE AT ACTUAL PROFIT

RECEIPTS 154,375

COMPENSATION (70,000)

OVERHEAD (51,355)

NET PROFIT 33,020

PROFIT PERCENTAGE 21.4

PFFINFORALA50115 STANDARD RATE HOURS

STDRTEHRS

ASSOC A ASSOC B

STANDARD RATE 175.00 175.00

BILLABLE HOURS 2000 1650

ACTUAL VALUE OF TIME 270,000 288,750

ACTUAL RATE 135.00 175.00

STANDARD RATE HOURS 1543 1650

27

MEASURING ASSOCIATE PERFORMANCE

ASSUMPTIONS:

ASSOCIATE A:

SALARY 75,000

OVERHEAD 120,000

BILLABLE HOURS 1,615

HOURLY RATE 195


RECEIPTS 226,500


SUMMARY FINANCIAL INFORMATION

ASSOCIATE A:

CURRENT COMPENSATION 75,000

AT ZERO% PERFORMANCE SUPPORTS COMPENSATION OF 106,500

ASSIGNABLE OVERHEAD 120,000

BILLABLE HOURS 1,615.0

HOURLY RATE 195

INDIVIDUAL RECEIPTS 226,500


ACTUAL PROFIT AMOUNT 31,500

ACTUAL PROFIT PERCENTAGE 13.9

PROFIT AT PROFIT AT

0.15 0.20

CURRENT PERFORMANCE SUPPORTS COMPENSATION OF 72,525 61,200

REQUIRED BILLABLE HOURS TO ACHIEVE PROFIT LEVELS 1635.8 1738.0

REQUIRED BILLING RATE TO ACHIEVE PROFIT LEVELS 197.51 209.85

REQUIRED CASH REALIZATION RATE TO ACHIEVE PROFIT LEVELS 0.728 0.774

28

PERFORMANCE – THROUGH FORMAL WRITTEN EVALUATION

PRODUCTION – NEED TO DISTINGISH OVERALL BILLABLE HOURS AGAINST STANDARD RATE HOURS.

PROFITABILITY – FUNCTION OF RATE, HOURS, REALIZATION RATE

PROSPECTS – NEED CRITERIA FOR ADVANCEMENT TO THE NEXT LEVEL

29

PFFINFORALA50115

CSHREALRATE

INDIVIDUAL ATTORNEY CASH REALIZATION

BUDGETED HOURS 1600

STANDARD RATE 300

BUDGETED STANDARD VALUE 480,000

BUDGETED FIRM CASH REALIZATION RATE 0.85

BUDGETED RECEIPTS 408,000


ACTUAL BILLABLE HOURS 1547

ACTUAL STANDARD VALUE 464,100

ACTUAL RECEIPTS 375,000

ACTUAL CASH REALIZATION RATE 0.81

RECEIPTS DIFFERENCE (33,000)

30


RECEIPTS SHORTFALL DUE TO HOURS

VALUE DIFFERENCE (15,900)

BUDGETED REALIZATION RATE 0.85

DIFFERENCE DUE TO HOURS (13,515)


RECEIPTS SHORTFALL DUE TO RATE

REALIZATION RATE DIFFERENCE (0.04)

ACTUAL STANDARD VALUE 464,100

DUE TO RATE (19,485)

OVERALL DIFFERENCE (33,000)

31

• BILLABLE HOURS

• RATE REALIZATION (STD VALUE VS. CLIENT VALUE)

• BILLING REALIZATION (NET WRITE-UPS/DOWNS)

• A/REC WRITE-OFFS

• GROSS VALUE OF BILLABLE TIME

• TIME TO BILL

• TIME TO COLLECT

• BILLINGS

• CASH RECEIPTS

• EXPENSES

• NET INCOME

• DISTRIBUTIONS TO OWNERS

INFORMATION GENERALLY TRACKED BY

LAW FIRMS – FIRM LEVEL

BILLING (PRIMARY) ATTORNEY LEVEL• BILLING REALIZATION

• A/REC WRITE-OFFS

• BILLINGS AGAINST BUDGET

• COLLECTIONS AGAINST BUDGET

WORKING (HANDLING)ATTORNEY LEVEL• BILLABLE HOURS

• RECEIPTS (W/CAVEATS)

INFORMATION GENERALLY TRACKED BY LAW

FIRMS-BILLING (PRIMARY ATTORNEY)

LEVEL/WORKING ATTORNEY

32

QUESTION: RECOGNIZING THAT ATTORNEYS DO NOT HAVE MUCH INTEREST IN FINANCIAL REPORTS, WHAT ARE THE THREE REPORTS THAT WOULD BE RECOMMENDED FOR DISTRIBUTION ON A MONTHLY BASIS? WHAT FORMAT WOULD BE USED? I.E, PAPER, EMAIL, ETC.

MONTHLY REPORTS

TO OWNERS OF THE FIRM

PFFINFORALA

NEWMOSUM

ABCD LAW FIRM, PC

YEAR-TO-DATE SUMMARY FINANCIAL INFORMATION

FOR THE PERIOD (DATE)

MONTH YTD

BUDGETED STANDARD VALUE OF BILLABLE TIME

ACTUAL STANDARD VALUE OF BILLABLE TIME

DIFFERENCE

PERFORMANCE PERCENTAGE

BUDGETED CLIENT VALUE OF BILLABLE TIME

ACTUAL CLIENT VALUE OF BILLABLE TIME

DIFFERENCE


BUDGETED BILLINGS

ACTUAL BILLINGS

DIFFERENCE


BUDGETED HOURS

ACTUAL HOURS

DIFFERENCE


BUDGETED CASH RECEIPTS

ACTUAL CASH RECEIPTS

DIFFERENCE


CASH RECEIPTS OVER (-UNDER)

DUE TO REALIZATION RATE DIFFERENCE

DUE TO HOURS DIFFERENCE

BUDGETED EXPENSES

ACTUAL EXPENSES

DIFFERENCE


BUDGETED NET INCOME

ACTUAL NET INCOME

DIFFERENCE


33

PFFINFORALA

CSHFLWCHT

ABCD LAW FIRM, PC

STATEMENT OF CASH FLOWS

FOR THE PERIOD (DATE)

MONTH YTD

CASH BALANCE - END OF PREVIOUS PERIOD 439,760 109,978

CASH RECEIVED

CLIENT RECEIPTS 505,861$ 6,100,248

TOTAL CASH AVAILABLE 945,621$ 6,210,226$

EXPENSES (337,048) (3,315,563)

OTHER NET CHANGES (2,668) 13,189

NET CASH AVAILABLE FOR SH DISTRIBUTIONS 605,905 2,907,852

SHAREHOLDER DISTRIBUTIONS (484,481) (2,786,429)

CASH BALANCE - END OF CURRENT PERIOD 121,424$ 121,424$

PFFINFORALA

HRSRPT ABCD LAW FIRM, PC

BILLABLE HOUR INFORMATION

FOR THE PERIOD ENDING (DATE)

SHAREHOLDERS

BUDGET ACTUAL VARIANCE PERF BUDGET ACTUAL VARIANCE PERF

MONTH MONTH AMOUNT PERCENT Y-T-D Y-T-D AMOUNT PERCENT

SH 1

SH 2

SH 3

SH 4

SH 5

TOT S/H

AVG S/H

NON-SHAREHOLDERS

NS 1

NS 2

NS 3

NS 4

NS 5

NS 6

NS 7

TOTAL NON S/H

AVG N/S

PARALEGALS

P/L 1

P/L 2

P/L 3

TOT P/L

AVG P/L

OTHER

TOTALS

34

• OWNER COMPENSATION FOR THE MONTH, YTD AND BALANCE DUE

• SCHEDULE OF ORIGINATIONS AND HANDLINGS BY TIMEKEEPER

• TIMEKEEPER PROFITABILITY (QUARTERLY)

• PRACTICE AREA PROFITABILITY (QUARTERLY)

• DETAILED INCOME STATEMENT (QUARTERLY OR SEMI-ANNUALLY) – ACT VS. BUDGET

• RECEIPTS PERFORMANCE – DUE TO HOURS AND DUE TO REALIZATION RATE BY TIMEKEEPER

OTHER KEY MONTHLY REPORTS

ANNUAL REPORT

TO OWNERSTABLE OF CONTENTS

• BALANCE SHEET – CASH BASIS

• INCOME STATEMENT

• STATEMENT OF CASH FLOWS

• SUPPLEMENTAL INFORMATION- ACTUAL VS. BUDGET

• OFFICE BY OFFICE FINANCIALS (IF APPLICABLE)

• PROFITABILITY ANALYSES BY TIMEKEEPER, PRACTICE GROUP, BILLING AND ORIGINATING ATTORNEY

• BILLABLE HOURS BY TIMEKEEPER GROUP – ACTUAL VS. BUDGET

• BALANCE SHEET – ACCRUAL BASIS

• YEARLY COMPENSATION INFORMATION

• CAPITAL BALANCES – OWNERSHIP INTERESTS

• BUDGET FOR FOLLOWING YEAR

35

36

Your opinion matters!

Please take a moment

now to evaluate this

session.

Documents

Key Issues in Effective Profitability Enhancementstatic.alanet.org/AC-2016-PDFs/FM12_Key_Issues_in... · Key Issues in Effective Profitability Enhancement Presented by John G. Iezzi,