Practice Management: Practice Models and Networks

Course details

If your firm is built on a solid foundation of good decision-making, ethical and efficient processes and a balanced team of committed leaders, it can be confident about its long-term future.

More about this Event

Practice Models and Networks examines the various models available such as sole practitioner, partnership, and corporate structures; the major approaches to profit-sharing and to decision-making within a firm; and the use of networks to multiply the power of your own advice.

This course is part of a series of eight courses based on the IFAC Guide to Practice Management for Small and Medium Sized Practices and has been produced with the permission of IFAC.

Work through the knowledge and application modules to understand the theory and exchange your ideas with your peers. Then complete the final Putting it into Practice module to create an action plan for your practice.

Practice models and networks enables the learner to:

• Select the right practice model for their firm
• Consider the decision making process of their firm
• Understand the roles and agreements of partners
• Utilise their network to benefit their firm

Learning Outcomes

Practice Models

• What practice model is right for you?
• Sole practitioner
• Cost-sharing arrangement
• Partnership of equals
• Unequal partnership
• The consolidator model
• Multidisciplinary firms

Practice Management

• Family members working in the firm
• Decision-making approaches
• Issues to consider when structuring or restructuring a firm
• Partnership agreements
• Remuneration and profit-sharing models

Using networks to add value

• Advantages and disadvantages of network alliances
• Referral network
• Professional network
• Management support network

Putting in to practice

This module helps you put the learning from this course in to practice in your firm.