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Course Descriptions

Course Descriptions

Accounting for Lawyers (Spring 2019)

  • Course Number: LAW-614
  • Class Number: 03250
  • Instructor: Adrian Stern

Course Description

Accounting is essential to the effective functioning of any business organization, both for profit and not for profit organizations.  A test of any system, whether in the corporate form, partnership, or sole proprietorship and the aspects of it represented by accounting, ultimately is judged by the results which are produced, and the integrity of management and financial information. 

The first third of the course will represent what a lawyer needs to know about basic accounting and financial reporting. The course will cover basic accounting and organizational issues, the basic financial statements and concepts such as cash vs. accrual methods of accounting and financial analysis. 

The remaining two-thirds will cover a broad range of topics including:

Accounting for Law Firms
Accounting for Businesses with Inventory
Using the Financial Statement to Calculate Damages in Litigation Matters
Business Valuations Using Financial Statements
Using the Financial Statements in Buying and Selling Businesses
Goodwill: What is it? Why is it important? Where Does it Come From?
The Difference between For-Profit and Non-Profit Accounting.
Income Taxes and How They Impact Financial Statements
Fraud In Financial Statements
Accounting Software: QuickBooks and Beyond
The Auditor's Role Involving Financial Statements and the Attorney
Financial Statements Projections and Forecast
The Do's and Don'ts of Accounting in Family Law Matters: Where They Hide the Money and Where You Find It

Course Details

Unit Value: 3

Grading Option: Numerical or CR/D/F

Schedule: TBD (Planning either Wednesday or Thursday 3:00p.m.-6:00 p.m.)

Room Number: TBD

Exam: Mid-Term (30% of the Final Grade) Final (50% of the Final Grade) Class Participation (10% of Final Grade) and class project individual or groups (10% of the final grade).  All exams will be closed-book.

Writing Requirement: No

Skills Requirement: No

Participation: Mandatory

Prior Experience: None Required

Course Details

  • Unit Value: 3
  • Grading Options: Numerical or CR/D/F
  • Schedule: T 3:00 pm - 5:30 pm
  • Room Number: Room 2
  • Exam: In-class exam
  • Writing Requirement: No
  • Skills/Experiential Unit Requirement: no
  • Participation: Mandatory