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 among others: Accounting for Law Firms; Using the Financial Statement to Calculate Damages in Litigation Matters; Business Valuations Using Financial Statements; Goodwill: What is it? Why is it important? Where Does it Come From?; Fraud In Financial Statements; The Do's and Don'ts of Accounting in Family Law Matters: Where They Hide the Money and Where You Find It.
