Lawyers frequently work with financial statements and other accounting information yet many find accounting difficult and even intimidating. The purpose of this course is to demystify accounting and provide students with the knowledge and understanding they need to work confidently with accounting information and to engage effectively with accountants, lawyers, business managers, and business owners.
The course is not technical—it is not intended to teach how to do accounting. Rather, it is designed to explain how accounting and financial reporting work, how financial information is generated, and the economic consequences that can arise from accounting choices and judgments.
A central theme of the course is understanding both the usefulness and the limitations of traditional financial reporting, including common misconceptions about what financial statements do—and do not—reveal.
By the end of the course, students will understand what the numbers in financial statements represent, where those numbers come from, and how accounting decisions can affect the interpretation of financial performance and financial position. Examples drawn from actual financial statements are used extensively throughout the course to illustrate the issues discussed.
Method of Evaluation: Credit/No Credit. There will be quizzes within the videos and assignments that the students will be expected to complete in advance of the live virtual sessions. The two assignments will be worth 35% each and the in-video quizzes will be worth 30%