Getting last hits is very important in League of Legends. It allows you to become stronger than your opponents by acquiring more gold and therefore more items. This equation takes the current timer, your current cs, and the approximate amount of minions per minute (13) to calculate an estimate for how many minions that you have missed.
Timer CS
2:00 0
2:30 6
3:00 12
3:30 19
4:00 25
4:30 31
5:00 38
5:30 44
6:00 50
6:30 57
7:00 63
7:30 69
8:00 76
http://www.leagueoflegendsmath.com/
http://leagueoflegends.wikia.com/wiki/League_of_Legends_Wiki