Managing lock up: Part one
Mark Lloydbottom explains why accounting firms should make it a priority to reduce their lock up in order to become profitable.
A lot has changed in practice management over the last 28 years, but in order to explain how your firm’s lock up percentage affects your gross fees today, I first want to describe a lesson I learnt in 1982.
Continued...
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it means ........
The amount of money tied up in work in progress and debtors.
Lock Up Explained
Thanks - good valid point - trust you found the article of use
Mark Lloydbottom
What does lock up mean?
It would have been helpful if Mark explained what lock up meant. What does it mean?