Accounting for Lawyers

Description

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.

Prerequisites

None

Time

8 hours

Learning Topics

Accounting Concepts

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
- Balance Sheet

Understand Financial Statements

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
- Debt & equity –the key concepts and terms associated with various forms of capital
Understand the links between each of the financial statements

Understand the Impact of Mergers & Acquisitions

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