3-Hour Program

See Credit Details Below


Financial statements provide key information on the financial performance of companies and are the language of business. Attorneys must understand financial statements in order to provide solutions to their clients' problems, including structuring financial transactions and litigating business disputes. And yet attorneys often don't have any training or familiarity with financial statements and the story they're really telling. This program was created as a fundamental resource for those looking to learn exactly how to read financial statements. Designed for lawyers who may be unfamiliar with financial statements, there will be discussion about the information communicated by financial statements and how it is used in analysis and decision making.

At this practical half-day program, an engaging panel of experts will provide a primer for understanding the basic elements of balance sheets, income statements, and cash flow statements. Among other things, the panelists will discuss important elements that all attorneys should be aware of when encountering these financial statements in the course of common business transactions and in litigation. This primer will lay the foundation for attendees to pursue more in-depth studies of financial statements.

What You Will Learn

  • Understand how to read, understand, and perform basic analyses of balance sheets, income statements, and cash flow statements.
  • Learn how to relate assets, liabilities, and owner's equity in the basic accounting equation: Assets = liabilities + owner's equity.
  • Learn how lawyers are to relate revenues, expenses, and net income in the income statement: Revenue–expenses = net income.
  • Lawyers who will need to use financial statements will learn the three fundamental areas of financial analysis: Liquidity, leverage risk, and profitability.
  • Demonstration on how net income explains changes in owner's equity over time.
  • Lawyers will be shown how to distinguish free cash flow and EBITDA.

Special Features

  • Convenient half-day program format
  • NY Transitional attorneys: Earn Skills credit

Program Level: Overview

Intended Audience: Lawyers working with financial information, whether in the course of business transactions, securities filings, or in the context of litigation. Any professional wanting to learn the basics of financial statements will also benefit from this program. 

Prerequisites: None

Advanced Prep: None

Credit Details

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