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    Financial Plan: Table 1: Start-Up Expenses

    Uploaded by

    chelsia
    This financial plan outlines the startup expenses, annual expenses, annual income, monthly cash flow, net profit, and break-even analysis for a new law firm. The startup expenses total RM94,500 and include rental deposit, renovation, fixtures, equipment, and branding costs. Annual expenses are estimated to be RM180,000 and include office rental, supplies, salaries, and subscriptions. The firm projects annual income of RM600,000 from legal service fees. The estimated monthly net profit is RM33,000, and the break-even point is calculated to be 2.86 months based on a constant monthly net profit.

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    Financial Plan: Table 1: Start-Up Expenses

    Uploaded by

    chelsia
    28 views3 pages
    This financial plan outlines the startup expenses, annual expenses, annual income, monthly cash flow, net profit, and break-even analysis for a new law firm. The startup expenses total RM94,500 and include rental deposit, renovation, fixtures, equipment, and branding costs. Annual expenses are estimated to be RM180,000 and include office rental, supplies, salaries, and subscriptions. The firm projects annual income of RM600,000 from legal service fees. The estimated monthly net profit is RM33,000, and the break-even point is calculated to be 2.86 months based on a constant monthly net profit.

    Original Description:

    financial plan for law firm management

    Original Title

    Financial Plan

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    This financial plan outlines the startup expenses, annual expenses, annual income, monthly cash flow, net profit, and break-even analysis for a new law firm. The startup expenses total RM94,500 and include rental deposit, renovation, fixtures, equipment, and branding costs. Annual expenses are estimated to be RM180,000 and include office rental, supplies, salaries, and subscriptions. The firm projects annual income of RM600,000 from legal service fees. The estimated monthly net profit is RM33,000, and the break-even point is calculated to be 2.86 months based on a constant monthly net profit.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    28 views3 pages

    Financial Plan: Table 1: Start-Up Expenses

    Uploaded by

    chelsia
    This financial plan outlines the startup expenses, annual expenses, annual income, monthly cash flow, net profit, and break-even analysis for a new law firm. The startup expenses total RM94,500 and include rental deposit, renovation, fixtures, equipment, and branding costs. Annual expenses are estimated to be RM180,000 and include office rental, supplies, salaries, and subscriptions. The firm projects annual income of RM600,000 from legal service fees. The estimated monthly net profit is RM33,000, and the break-even point is calculated to be 2.86 months based on a constant monthly net profit.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    Financial Plan

    1. This section will present the firm’s start-up expenses.

    Subject  Amount (RM)

    Rental Deposit ( 6 months)    42,000

    Renovation   10,000

    Fixtures and Furniture   35,000

    Equipment and Machinery     6,500

    Logo / Branding     1,000

    Total   94,500
    Table 1: Start-up expenses

    2. This section will present the firm’s annual expenses

    Subject Amount (RM)

    Office Space Rental  72,000

    Stationery  24,000

    Utilities and Overhead Expenses             12,000


    (estimated)

    Legal Clerk Salary ( 2 clerks ) 48,000

    Despatch Person ( 1 Person )                         18,000

    Bar Council yearly Payment   2,400

    Indemnities Insurance   2,400

    Online database subscription   1,200

    Total                       180,000
    Table 2:Annual Expenses

    3. This section will present the estimated firm’s annual income

    Subject  Amount(RM)

    Legal Services Fee                     600,000

    Total                     600,000
    Table 3: Annual Income
    4. Estimated Monthly Cash Flow and Net Profit of the firm

    Subject Amount (RM) Amount (RM)

    Total Income:

    Legal Services Fee               50,000

    Total Expenses:

    Fixed Expenses:

    Office Space rental                  6,000

    Insurance                   200

    Staff Salary     5,500

    Database       100   
    Subscription

    Bar Council Payment        200

    Stationary      2,000   14,000

    Controllable Expenses

    Supplies     1,000

    Utilities     1,000

    Miscellaneous     1,000     3,000

    Total  17,000

    Net profit    33,000


    Table 4: Estimated Monthly Income

    5. Break-Even Analysis
    The presumption made: Net profit remained constant for every month.
    Item Amount (RM)

    Start-up cost 94,500

    Estimated Monthly Net Profit 33,000

    Break-even ( Duration )   2.86 months


    Table 5: Break-Even Analysis

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