This course is designed to introduce students to concepts of financial literacy in order to support them in their interactions with business clients and practice management. The course is not intended to make students into tax or accounting specialists. The focus is on basic financial accounting techniques, the preparation of financial statements along with consideration of some current issues in financial reporting, the application of financial statement analysis tools, the basics of business valuation, selected income tax topics relevant to professionals and their clients, and financial accounting, management and control issues as they relate to professional services firms.
Course Learning Objectives
By the end of this course, students should be able to:
- Interpret a financial statement and other presentations of financial performance
(e.g. non - GAAP measures).
- Illustrate common accounting errors and misstatements and their remediation.
- Recognize the implications of current accounting issues and recent developments in a given situation.
- Apply simple valuation concepts and considerations.
- Demonstrate an introductory level of awareness of common business income tax issues.
- Describe key financial accounting,financial management and financial control issues as they relate to professional services firms and other organizations more generally.
See course syllabus link below.
Industry leaders laud LSM 810:
- “The Financial Literacy for Lawyers course was extremely well done: the instructor, content and technology were all first-rate. I was very impressed with the online format as a teaching method.
The content level was appropriate for students without prior financial background and deftly explored its themes, demonstrating relevance for the practice of law and the business of lawyers. In my view this would be an extremely useful course for any law student – no matter which area of law may be their focus.”
- David Allgood
Former Senior Counsel, Dentons;
Former Executive Vice President and General Counsel, RBC
Student praise for LSM 810:
- “The material covered in this course has immediate real world applicability, as most of the content is based on public companies. Len Anderson’s approach offers students with any academic background the fundamentals to be able to navigate these financial statements with confidence.”
- - Shane Liquornik, Queen's Law
- “Regardless of where I end up, being able to analyze and understand the financial operations of a business – even on a general level – is a valuable skill. Business is relevant to many different areas of law, regardless of whether it falls under the umbrella of “corporate law” or not. I am confident that the skills I have developed in this course will serve me well going forward, regardless of where my career takes me.”
- - Brennan C., Queen's Law