Basic accounting principles for lawyers

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Where to find it

Law Library — 3rd Floor Collection (3rd floor)

Call Number
HF5686.L35 B72 2014
Status
Available

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Summary

This book is not a slimmed-down "Accounting for Lawyers" casebook, but a book especially designed as an auxiliary book for other courses that draw on accounting. It is brief, inexpensive, and gives students a plain English, sometimes even humorous, introduction to the basics of accounting and to the financial concepts of present value and expected value. It allows students to learn the essential accounting concepts outside of class so professors can spend more of valuable class time focusing on the core concepts of a course. The chapters are short and modular, so professors can assign as much or as little as students need to know for a course.

Contents

Introduction -- The balance sheet : assets, liabilities, and equity -- The income statement : revenues, expenses, and net income or loss -- Consolidated financial statements -- Double-entry bookkeeping : how transactions affect the balance sheet -- The equity section of the balance sheet -- Insolvency -- Accrual and deferral -- Depreciation, depletion, and amortization -- Inventory -- Contingencies -- Cash flow : the statement of cash flows -- Introduction to the accounting environment -- Generally accepted accounting principles -- Notes to the financial statements; MD&A -- Auditing -- Lawyers' responses to audit inquiries -- Internal accounting controls -- Governmental accounting -- The uncertainty of accounting -- Cost accounting -- Present value and the time value of money -- Expected value.

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