Finance for Lawyers—Skills and Ethics

Finance for Lawyers—Skills and Ethics
9 NY Credits: 3 Ethics; 6 Skills; Transitional and Non-transitional; 9 NJ Credits: 3 Ethics; 6 General

Faculty: Joseph Novello, CPA, MBA, The Financial Training Organization; Norman Arnoff, Esq.

Moderators: Bari Chase, Esq. and Donna Lennon, Esq., NYCLA’s CLE Institute

*This Program will satisfy the LIVE Skills and Ethics requirements for first or second year newly admitted attorneys; Also Live Program for NY Bridge the Gap One Day Live /One Day on Demand 

Learn the key financial concepts that all lawyers need to know to make dealing wuth your clients' financial matters more manageable and ethical.

Topics to be discussed include:


  • Role of finance in an organization
  • How lawyers add value to the financial function of a company
  • Foundations of modern accounting

Foundations of Modern Accounting and the Basic Equation of Finance; Financial Statements

  • Balance sheets
  • Income and cash flow statements
  • Financial statements
  • Statement of equity and other comprehensive income
  • Auditor’s report

Accounting Methodologies and Principles: Accrual vs Cash Basis

Who’s Who in Financial Reporting: Government and nongovernment regulators

Private Company Accounting

  • Big company vs. small company GAAP
  • Role of finance in a company and related legal support
  • Private companies and the CPA
  • Alternative services – reviews and compilation

Key Numbers and Ratios

  • Earnings per share (EPS)
  • Price/earnings (PE) ratio
  • Revenue and earnings growth\
  • Financial ratios–liquidity, solvency, profitability

Present Value Concepts and Business Valuations

  • Simple present value
  • Value of annuities
  • Why do you need to value a business?
  • Business valuation methodologies
  • Resources geared toward lawyers

The Lawyer’s Role in Financial Audits: Ethical Considerations

  • ABA and AICPA joint process
  • Dealing with conflicts of interest

Basic Concepts of Financial Investment

  • Risk vs. return
  • Modern portfolio theory and diversification

Financial Fraud Schemes: Ethical Responsibilities

Lawyers and Accountants: An Interdisciplinary Dialog of Ethical Considerations


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6/7/2019 9:00 AM - 6/7/2019 5:20 PM
14 Vesey St 2nd Floor Auditorium New York 10007

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