LAW 0570: Accounting for Lawyers
Summer 2024 • Section 21

Course Description

The course is designed to demystify accounting and financial matters that lawyers may encounter in their careers. Students are introduced to commercial accounting processes from the initial recording of commercial transactions to the production and presentation of an enterprise’s financial statements. Basic accounting principles and auditing standards promulgated by both private and public ruling -making bodies are critically examined. The course also discusses various approaches to analyzing financial statements, how to consider the time value of money and when to recognize contingent liabilities. Finally, students will understand the concept of internal controls and some of the basic judicial, legislative and regulatory accounting and auditing requirements imposed on public companies and their independent auditors. The course does not require any previous knowledge of accounting or finance. It is helpful for students who plan to practice in the areas of tax, commercial, corporate and other areas of the law involving accounting and financial issues.

Book List/Materials