LAW-2005 Accounting for Lawyers
Financial Services and other students interested in understanding the issues of accounting, finance, auditing, and financial reporting commonly encountered by attorneys. The course begins with an introduction to the objectives and the mechanics of financial reporting and accounting. In addition to the traditional textual and case materials, we examine in detail the financial statements of a local publicly traded company including the balance sheet, income statement, statement of shareholder's equity, statement of cash flows, footnotes and management disclosure and analysis. We will also perform fundamental comparative financial analysis from an investor's viewpoint on several companies during the course to determine each company's financial strengths and weaknesses. The course also addresses the relationship between lawyer and auditor and reviews and analyzes recent financial reporting and financial scandals and audit failures. There will be a mid-term and final exam, representing 20% and 80% of the course grade, respectively.