Understanding Financial Statements for Business Lawyers Part 1 and Part 2 CLE

Understanding Financial Statements for Business Lawyers Part 1 and Part 2

October 2012

Understanding Financial Statements for Business Lawyers, Part 1 and Part 2

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Teleseminars are midday continuing legal education conferences broadcast over the telephone. From the convenience of your office or home, you are able to dial into an 800 number, and hear nationally recognized practice leaders speak on important issues in the law. You are also able to ask them your questions. Teleseminars marry the best of technology and education to bring the world of CLE to your office or home.

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Program Description:

There are deep interrelationships between financial statements and the documents underlying business deals. Understanding financial reports - cash flow versus income, tax versus accounting books, the quality of earnings and analytical ratios - is essential to both due diligence on a transaction and drafting the operative agreements. Without a confident understanding of balance sheets and income statements, an attorney cannot help ensure that a client is getting the benefit of his or her economic bargain. This two-part program will provide you with a practical guide to financial statements and how they specifically relate to, and sometimes create traps in, major and routine business transactions, including business mergers, commercial borrowing, and the sale of business ownership interests.

Day 1 - October 16, 2012:

- Most important concepts in business finance and financial statements, and how they relate to transactional documents

- Understanding the components of a company's capital structure

- What does - and doesn't - a balance sheet tell you?

- Understanding the essential difference between earnings v. cash flow/EBIDTA

- Relationship of financial statements to reps, warranties, financial covenants

- Accounting books v. tax books, and how the difference effects sales of business interests

Day 2 - October 17, 2012:

- Understanding ratio analysis in financial statements

- Spotting red flags in balance sheets and income statements

- Quality of earnings and how that impacts financing a deal and structuring earnouts

- How do you better protect investors and parties to a deal

- Building regular valuations into business documents

- Working with auditors & understanding audit standards

Faculty:

C. Travis Webb is the managing partner of the Denver office of BKD, LLP, a national accounting and consulting firm. Mr. Webb has nearly 20 years' experience covering a diverse set of services such as financial statement audit, Sarbanes-Oxley internal control services, complex financial modeling and fraud and information technology consulting. He serves a client base of commercial, service and distribution entities and not-for-profit and governmental organizations. Mr. Webb received his B.S. in accounting and his M.B.A. from Missouri State University in Springfield.