LAW 422 - Accounting for Lawyers

This course provides an introduction to basic financial accounting, auditing, and finance for students who have not previously taken an accounting course. The course will be limited to such students unless they receive permission from the professor. Accounting topics will include basic accounting procedures and principles, and the analysis of basic financial statements including the balance sheet, income statement, and statement of cash flows. Auditing will focus on the role of the auditor and the meaning of audit reports. Finance topics will include “time value of money” issues and business valuation topics. All topics will emphasize implications for the legal profession. This course has been revised and has been increased to three (3) credits in order to provide necessary business background and greater depth in each topic area.