Martin Hauptman

Professor of Law Emeritus

250 Joralemon Street
Brooklyn, NY 11201
Areas of Expertise

Accounting Law
Tax Law

LL.B., Brooklyn Law School
LL.M., New York University School of Law

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.

Grading and Method of Evaluation:

Letter grade with pass/fail option. Final exam.

Federal Estate and Gift Tax

A survey of the principles of federal estate and gift taxation, including a determination of the gross estate, testamentary substitutes, valuation, the marital deduction, administrative expenses and losses, the annual exclusion and the unified transfer tax credit, related income tax problems and selected topics of estate and gift tax policy.

Grading and Method of Evaluation:

Letter grade only. Final exam.

Federal Income Taxation

An introduction to the fundamentals of federal income taxation with a focus on the determination of gross income, personal and business deductions, and exemptions; an analysis of timing issues and assignment of income principles, and a study of the character of gain or loss upon the disposition property.

Grading and Method of Evaluation:

Letter grade only. Final exam.