Accounting Principles for Lawyers (On-Demand)

$169.00

This course of Accounting for Lawyers will provide the basic accounting knowledge and the fundamental understanding of principles in financial accounting. The followers will acquire the insight of reviewing and understanding the balance sheet, income statement, statement of cash flows, and financial statements. Other topics will include the roles of law office accounting, various regulatory authority, understanding ethics, and tax updates.

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Event Details

Course Type

Original Date Of Course

Course Instructor

Tab Burkhalter, JD, CPA, MBA, ESQ

General Credits

2

Course Description

This course of Accounting for Lawyers will provide the basic accounting knowledge and the fundamental understanding of principles in financial accounting. The followers will acquire the insight of reviewing and understanding the balance sheet, income statement, statement of cash flows, and financial statements. Other topics will include the roles of law office accounting, various regulatory authority, understanding ethics, and tax updates.

Principles:

  • Basic Accounting Principles
  • Business Entities
  • Accounting and Management, IRS Regulations, and Fraud
  • Ethics and Code of Conduct
  • Tax Updates

Syllabus:

  1. Basic Accounting Concept will cover the Accounting equation: Assets = Liabilities + Owner’s equity; debits, credits, balance sheet, profit and loss, income statement, statement of cash flows, GAAP, and financial statements.
  2. Business Entities: 1120/ 1065/ 1120s/ Sole proprietors, and S corporation
  3. Accounting and Management, IRS Regulations, and Fraud will cover managerial accounting and how to plan, forecast, and budget. This will also include decision making, controlling and accountability. IRS Regulations will cover record keeping and bank accounts, as well as other income sources and client related expenses that an attorney may face. In the fraud section, I will provide a definition and detail elements related to determining if fraud has occurred.  
  4. Ethics: Referring to the principles of honesty, integrity, and morals. Code of Conduct establishes a conceptual framework for all professional accountants to ensure compliance with five fundamental principle of ethics: Integrity, Objectivity, Professional Competence and Due Care, Confidentially, and professional behavior.
  5. Tax Updates: This section will cover the 2018 tax updates including pass -thru entity deductions, business changes, accounting and reporting, interest deductions, net operating loss, meals and entertainment, section 1031 changes, and personal changes. 

Instructors:

Tab Burkhalter, JD, CPA, MBA, ESQ

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