Whether you’re a transactional attorney or a litigator, when financial and accounting records emerge in the legal matter you’re handling, it helps to know some accounting basics. The numbers always tell a story—one that may support your legal position. 

This basic level program will provide an overview for the non-accountant attorney of key accounting principles including: 

• Introduction of Financial Statements
o Types of Financial Statements
o Users of Financial Statements
• Overview of Generally Accepted Accounting Principles (GAAP)
• How to read:
o Level of Accountant’s Reports
o The Balance Sheet
o The Income Statement
o The Statement of Cash Flows
o The Notes to the Financial Statements
• Examples of financial statements by different industries
• How to analyze financial statements for key indicators and financial statement ratios
• Current developments
• Fraud issues on financial statements
• How to read a tax return
o Tax forms associated with different entities
o Identifying sources of income
o Tax deductions that do no equal economic outlay
o Differences between financial accounting and tax accounting
• Discoverability of tax returns
o Federal Statutes
o Case Law
o Will a tax return answer your questions

Attendees of this program will be able to recognize the relevant accounting principles at work and how they may impact the outcome of legal matters.

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