Understanding a law firm’s fiscal affairs is not that difficult. One need only understand a few basic concepts — concepts that are no different for the law firm or the law firm’s clients. The trick is not in understanding the numbers, but in managing for results. For a law firm, this is an even greater challenge. Its owners are well educated, strong willed, success driven, practice focused, independently minded and, at least for trial lawyers, somewhat more argumentative than the general population. The number of law firm owners is also large relative to the total number of employees and those owners are active in the day-to-day operations of the firm.