Accounting & Finance

Financial Statements

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Balance Sheets

An introduction to balance sheets, including an explanation of the balance sheet equation and descriptions of assets, liabilities and shareholders’ equity.

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Income Statements

The income statement shows whether and how a company made or lost money over an accounting period. This course describes the income statement and the common classifications of revenue and expenses you’ll see on it. It also explains different measures of profitability such as net income, EBIT and EBITDA.

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Cash Flow Statements

Cash flow is fundamental to a company’s ability to stay in business. This course explains cash flow statements and how they’re used to track cash from a company’s operating, investing and financing activities.

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Statements of Shareholders’ Equity

A walkthrough of a statement of shareholders’ equity, including what events typically cause changes in the value of shareholders’ equity.

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Where to Find Company Financial Information

Lawyers often want to look for financial information about a company, whether it’s to better understand a client’s business, to learn about the other side in a transaction or litigation, or for business development purposes. This course provides some tips on where to look.

Essential Concepts

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Accrual Accounting and Revenue and Expense Recognition

The main difference between cash accounting and accrual accounting is how revenue and expenses are recognized. This course briefly explains these accounting methods and describes how revenue and expenses are recognized in accrual accounting.

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Present and Future Value Calculations

The math behind calculations related to the time value of money, including calculations for interest rates, present and future value, annuities and perpetuities.

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Valuation

Valuation is one of the most fundamental concepts in corporate finance. This course describes the different measures of a company’s value, and the various techniques used to value businesses and their assets.

Process & Oversight

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Audited Financials and the Audit Process

An audit is the primary mechanism for providing confidence in the reliability of a company’s financial statements. This course explains the audit process, audit opinions and how audited financial statements are put together.

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The Accounting Process

An overview of the accounting process, including how transactions appear in a company’s chart of accounts, general ledger, trial balance and financial statements.

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Financial Concepts in Lending Practice

The key financial concepts in lending practice, including the main types of loans and their risk, financial reporting requirements for borrowers, financial covenants, and credit ratings.

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Financial Concepts in Litigation Practice

The key financial concepts in litigation practice, including how financial statements are used by litigators, which bookkeeping records might be included in a document request, the roles of financial experts and fact witnesses, and the basis of calculations for damages or settlements.

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Financial Concepts in M&A Practice

The key financial concepts in M&A practice, including valuations, the main financial provisions in M&A agreements and general tax and accounting issues.

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Financial Concepts in Real Estate Practice

The key financial concepts in real estate practice, including when financial concepts come into play, financial soundness and guarantors, and covenants and ratios.