Understanding Financial Statements

An entity's financial statements convey a great deal of significant information regarding its financial position and the results of its operations. The ability to understand financial statements is a critical skill for corporate, family, trial and other lawyers. It also is
essential for lawyers reviewing financial statements to be able to "read between the lines." This session focuses on understanding financial statements, intermediate level financial analysis and essential concepts underlying the presentation of financial information to assess their reliability. At the end of the program, lawyers will be able to ask better questions regarding financial statements they need to review and analyze and/or recognize when the level of complexity is such that they need to hire an
accountant to assist in the review and analysis.

The program will be taught by two forensic accountants who are both Certified Fraud Examiners and Certified Public Accountants with advanced certifications in financial forensics. They use a case study that incorporates many of the investigative projects they have worked on over several years. The case study includes a full set of financial statements, including footnote disclosures. (Participants attending the program will need to have a copy of the case study financial statements at the program to derive the maximum benefit from the program.)

The program provides special emphasis on "financial shenanigans" - ways in which Generally Accepted Accounting Principles ("GAAP") might be manipulated to create misstated financial statements - as well as practical suggestions on how to find misstatements in financial statements of both public companies and medium sized, family owned businesses. The program is ideal for corporate attorneys, trial lawyers, bankruptcy counsel, family law practitioners and general counsel.

Lee A. Gould, CPNABV, JD, CFE, CFF
9/20/2018 2:00 PM - 4:30 PM
The Chicago Bar Association 321 South Plymouth Court Chicago, IL
Online registration not available.

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