Curriculum

Accounting for Lawyers

Credits: 2.00
Faculty: Avery Neumark, Martin Hauptman

This course, designed for law students with no experience with accounting, introduces basic accounting principles and concepts lawyers are likely to encounter. Topics include recordation of transactions; preparation and analysis of financial statements; revenues and expenses; importance of accruals and deferrals; tangible and intangible assets; depreciation and amortization; liabilities and contingencies; and valuation, including the time value of money. The elements of the shareholder equity section of the balance sheet, stated capital and surpluses, are examined. Asset and share distributions are studied. At the conclusion of the course, income statement and balance sheet tests and ratios are discussed from the prospective of shareholders, management, and creditors. The course is taught largely by the problem analysis method.

Grading and Method of Evaluation

Letter grade only. Final exam.