Finance & Accounting for Lawyers by Brian Brinig
This textbook serves as an introductory guide for attorneys working with accountants and financial experts.
The principles of accounting and finance directly extend to contract issues, torts, business and securities matters, taxation issues, partnership disputes, gift and estate matters, to name only a partial list. These areas of jurisprudence are often based significantly on substantive financial questions, and their measurement can be the heart of the entire matter. The application of broad accounting principles to countless business transactions requires an understanding of the objectives of financial reporting and the needs of the users of financial information.
Contrary to popular belief, accounting is not a mathematical formula or calculation, but rather an organized system that logically summarizes business transactions into useable information that is meaningful to management, creditors, business investors and other stakeholders. This text takes readers through the system of accounting and the development of financial statements. Complexities and limitations of accounting information are explored, culminating in a study of ratio analysis of financial statements to glean relevant insights. The objective of this introductory study of accounting is to provide a broad, workable knowledge base that will facilitate the use of accounting information as it relates to the practice of law.
"The other major book on this subject, published by the American Bar Association, is now three years out of date," said David Foster, BVR CEO, the publisher of Finance & Accounting for Lawyers. "Brian's taught this course at USD School of Law, and he knows the subject forward and backwards, so this is a great addition for any attorney who needs to know theories of debits and credits, business valuation, or other complex financial issue."