Accounting for Lawyers
Accounting is the language of business and anyone working as a legal advisor to corporations should have a solid grasp of accounting concepts and financial statements.
This course provides a comprehensive and intuitive review of accounting principles from the perspective of a user of financial information.
Participants will have the opportunity to explore and understand a set of financial statements that incorporate simple and complex accounting concepts. The accounting impacts of a corporate acquisition will also be examined. Handouts and examples will be used throughout the course.
Skills / Knowledge
- Discuss key accounting principles such as revenue recognition, the matching principle, double entry accounting and accrual accounting
- Learn to read the financial reports which are provided for investors
- Review a company’s key financial statements and understand how they relate to each other: Income Statement, Cash Flow Statement, and Balance Sheet
- Participants will explore and understand a set of financial statements that incorporate numerous accounting concepts, including: Revenue and costs –discuss issues related to recognition, Depreciation & Fixed Assets, EBITDA –a popular measure of a company’s financial performance, Income Tax, Subsidiary accounting –accounting treatment at various ownership level, and Debt & equity –the key concepts and terms associated with various forms of capital
- Understand the links between each of the financial statements
- Discuss the key role of synergies
- Review the significance of accretion and dilution: Understand intangibles and amortization
- Analyze the common financial statement adjustments that occur in acquisitions