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INTRODUCTION TO FINANCIAL STATEMENT CONCEPTS

Length: 1 hour

The basic concepts underlying financial reporting are explained. These principles enable lawyers to use a financial statement, communicate effectively on financial matters and ask productive questions.

This program is good for those with little to no accounting background, and for the more advanced it provides updates, insight and is a good refresher.

Agenda:

  • Generally accepted accounting principles (GAAP) and non-GAAP reporting
  • Determining how much reliance to place on a financial report
  • Net income vs. cash flow
  • Depreciable assets
  • Balance Sheet
  • Income Statement
  • Statement of Cash Flows

You will learn what do first when viewing a financial statement, and how to recognize the limitations of a report.

Upon course completion, you will earn 1 hour of CLE credit. 


CE Credits: 1


Faculty

  • Douglas Smith, CPA

Course Materials