Telestrat is a worldwide leader in continuing legal education (CLE) courses. Our Telestrat MBA Seminar Series has brought the world of finance, accounting, and business strategy to lawyers in the U.S., Europe, and Asia.

 

Financial Statements for Lawyers

Analyzing financial statements has been a role task traditionally assumed by investment bankers and accountants. However, with accounting scandals threatening to erode confidence in corporate America, attorneys are taking on a prominent role in preparing and analyzing financial statements. From financial statement reporting to detecting fraud, this course is designed to give attorneys a one day overview of accounting techniques, their relevance, and problems associated with each.

Schedule

1. Balance Sheet - 60 Min.

  • Assets
  • Liabilities
  • Owner’s Equity
  • Sample Balance Sheet
  • Capital Formation Options

2. Income Statement - 60 Min.

  • Elements Explained
  • Recognizing Revenue
  • Tracking Expenses
  • FIFO vs. LIFO
  • Links Between Income Statement & Balance Sheet
  • Depreciation

3. Cash Flow Statement - 60 Min.

  • Sample Cash Flow Statement
  • Shortfalls of Cash Flow
  • Free Cash Flow

4. Fraud & Manipulation - 60 Min.

  • What is Fraud?
  • Types of Fraud
  • Off-Balance Sheet Entities
  • Case Study: Enron
  • Profit Smoothing
  • Footnotes – Spotting the Red Flags