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School facilities at 250 Joralemon St. and 111 Livingston St. are closed until further notice. Read more.

Accounting for Lawyers

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. Students with previous accounting knowledge may not take this course.

Grading and Method of Evaluation:
Letter grade with pass/fail option. Final exam.