Accounting and How to Understand and Analyze Financial Statements
March 2012
Accounting and How to Understand and Analyze Financial Statements
Program Highlights:
There are financial issues involved with every type of law practice and it is your duty to possess the skills and knowledge necessary to handle those issues effectively. This detailed program will provide you with the financial literacy required to protect yourself and your clients through your understanding of accounting concepts, terminology, and financial statements. Beginning with an examination of Generally Accepted Accounting Principles and continuing with an overview of an actual publicly traded company's financial statement, you will gain hands-on-experience from Doug Smith, one of the nation's leading experts in the field
You will gain the ability to…
-Communicate effectively with accounting and business people
-Know what to ask for when presented with written or verbal financial information
-Quickly recognize how much reliance you should place on a financial statement
-Learn to formulate effective inquiries during the discovery process
-Apply basic analytical techniques to reveal strengths and weaknesses of a company or professional firm
-Understand the limitations of financial statements
-Recognize accounting techniques that arguably are within the rules but are designed to mislead you
Agenda:
8:30 - 9:00 am
Registration and Continental Breakfast
9:00 - 10:40 am
Basic Concepts Underlying Financial Reporting
-Generally Accepted Accounting Principles (GAAP) and Non-GAAP Accounting
-Levels of Assurance Provided in a Financial Report
-Net Income vs. Cash Flow
-Depreciable Assets
-Capitalizing vs. Expensing
-Inventory
-Other Fundamental Concepts
10:40 - 10:55 am
Networking Break
10:55 am - 12:10 pm
The Financial Statements
-Accountants' Report
-Balance Sheet
-Income Statement
-Statement of Cash Flows
-Notes to the Financial Statement
12:10 - 1:15 pm
Lunch on Your Own
1:15 - 2:30
Basic Financial Statement Analysis
-Short-term Liquidity
-Long-term Solvency
-Profitability
-Return on Investment
-Commonly Used Ratios
2:30 - 2:45 pm
Networking Break
2:45 - 3:35 pm
Protecting Against Deceptive Accounting Practices
-How a Financial Statement Can Follow the Rules and Still Be Misleading
-Circumstances Most at Risk of Results Being Affected by Accounting Techniques
-Tactics to Protect Yourself, Clients and Your Firm
3:35 pm
Adjourn
Faculty
DOUGLAS R. SMITH
Douglas Smith Seminars
Myrtle Beach, NC
Mr. Smith has taught seminars throughout the country to management and lawyers for almost 20 years. Previously, he was a Chief Financial Officer as well as a business college lecturer. Mr. Smith also consults to law firms on accounting matters.
Video Replays: March 30, 2012
Denver: CLE Classroom, 1900 Grant Street, Suite 300
Grand Junction: 1250 East Sherwood Drive
Colorado Springs: 421 South Tejon Street, Suite 100
Location Information
CLECI Large Classroom
1900 Grant Street, Suite 300
Denver, CO 80203
Get directions
1900 Grant Street, Suite 300
Denver, CO 80203
Registration Fees
| Non Member | $269.00 |
| CBA | $229.00 |
| New Lawyer | $209.00 |
- General Credits: 6.00
- Ethics Credits:
- EDI Credits:
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