The Law To Know

Free living map

The Firm’s Money: A Living Map

A firm makes money from time and fixed fees, and loses it between work done, billed and collected. Pricing policy and billing set what clients pay; cash flow decides whether a profitable firm survives; credit control gets money in; budgets and management accounts keep the year in view; tax, reserves and drawings decide what happens to the profit; and controls protect it all. Press Play to watch the map build, click an idea for its definition and the usual trap, or trace a short case. A simplified teaching map.

Hover over an idea to light up what it connects to, click it for its definition, minimum requirements, an example and the usual trap, press Play to watch the map build step by step, or trace a short case through it.

Simplified teaching map, in general terms. Check the law where you work. On a small screen, scroll the map sideways.

Learn it properly

The full lecture, exercises and quiz behind this map are in The Firm’s Money: Module 1, and that module is free to read.

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