Accounting for Lawyers, Concise

The Concise Sixth Edition of Accounting for Lawyers is a brief, less detailed casebook that introduces novices to how accounting issues frequently arise in transactional work and litigation. It incorporates numerous developments since the Fifth Edition, most significantly discussions about the new generally accepted accounting principles governing revenue recognition, lease accounting, and credit losses. It also identifies and discusses various financial accounting issues that lawyers should keep in mind during the pandemic and its aftermath. The text empowers students to work backwards through the bookkeeping process, negotiate agreements, recognize red flags, and understand and defend against accounting-related information during litigation.

Format: Hardback
Length: 932 pages
Publication date: 31 January 2023
Publisher: West Academic Publishing

The new book purchase comes with a complimentary digital access to the eBook, making it an even more valuable addition to your reading collection. This concise version, now in its sixth edition, has been carefully crafted to meet the demand for a shorter, less detailed casebook that introduces beginners to the world of accounting, particularly in transactional work and litigation. Designed specifically for one- and two-credit hour courses for law students with no prior accounting background, the text of the Concise Sixth Edition has been significantly shortened, making it more affordable and easier to comprehend.

Since the Fifth Edition, numerous developments have been incorporated into the Concise Sixth Edition, most notably discussions on the new generally accepted accounting principles (GAAP) governing revenue recognition, lease accounting, and credit losses. Often referred to collectively as new GAAP, these rules represent the most significant changes to financial accounting in at least a generation.

In addition to these updates, the Concise Sixth Edition also identifies and discusses various financial accounting issues that lawyers should be aware of during the pandemic and its aftermath. The first section of each chapter, titled "Importance to Lawyers," provides insights into how accounting concepts and financial statements impact legal matters. This text empowers students with the ability to:

• Work backwards through the bookkeeping process and, when necessary, trace an amount that appears on the financial statements through the accounting records to the ledgers, journals, and supporting documentation;
• Negotiate agreements or other legal documents containing accounting terminology or concepts;
• Recognize red flags that suggest financial difficulties or even financial fraud; and
• Understand and, when necessary, defend against the opportunities to obtain accounting-related information.

By incorporating these valuable skills, students will be well-prepared to navigate the complex world of accounting and apply their knowledge to real-world legal situations. Whether you're a law student, practicing attorney, or professional in the financial industry, the Concise Sixth Edition is an essential resource for anyone seeking to gain a deeper understanding of accounting and its implications in the legal field.

Weight: 363g
Dimension: 254 x 191 (mm)
ISBN-13: 9781636591070
Edition number: 6 Revised edition