LAW 7825 - Accounting for Lawyers

Accounting for Lawyers. This course is intended to provide an understanding of accounting principles and how this understanding is important for lawyers involved in transactional practices and commercial litigation. There are no prerequisites and no requirement of a business background. Topics covered include fundamental principles of accounting for business enterprises; how to analyze and understand an income statement, balance sheet, and statement of cash flow; basic concepts of revenue recognition; conventions for capitalization versus expenses; and how to recognize possible manipulation of financial and accounting statements. This class is not intended for students who have previously taken accounting courses.