Gain a practical understanding of accounting and the relevance it has to your practice.
Do you understand basic accounting terms, ratios and statements? Can you apply this knowledge to create a clear understanding of the overall picture? Do you know how to identify red flags in accounting records? It is imperative that attorneys are able to develop a working understanding and analytical framework of accounting terminology to strengthen their background and avoid unintentional, involuntary accounting scandals. When your client is involved in a legal action where there is a need to determine the economic value of their business, are you ready to confidently represent them? This primer will teach you the basics of accounting and deepen your knowledge of valuation methods. Don't put yourself at risk - register today!
- Enhance your credibility with experts and clients by understanding common accounting terms.
- Build your understanding of financial statements: gain perspective on calculating important ratios and how they're interconnected.
- Recognize potential red flags: hone your fraud detection skills by examining accounting records.
- Develop an accounting vocabulary that ensures proper usage in litigation to help you win your case.
- Determine which valuation methodologies apply best to your case.
- Stay updated on current developments in valuation.
UNDERSTANDING BASIC ACCOUNTING CONCEPTS
9:00 - 9:45, Laura S. Leopardi and Susannah D. Sabnekar
- Comprehending Accounting Terms
- Reading Financial Statements
- Balance Sheet
- Income Statement
- Statement of Cash Flows
- Statement of Retained Earnings
- Footnotes: Reading the Fine Print!
- Bridging the GAAP: Application of Basic Generally Accepted Accounting Principles
ANALYZING FINANCIAL STATEMENTS
9:45 - 10:30, Laura S. Leopardi and Susannah D. Sabnekar
- Calculating and Interpreting Key Financial and Operating Ratios
- Capital Expenditures Levels
- Owners'/Officers' Compensation
10:45 - 11:30, Laura S. Leopardi and Susannah D. Sabnekar
- Identifying Red Flags and What They Mean
ANALYZING INCOME TAX RETURNS
11:30 - 12:15, Laura S. Leopardi and Susannah D. Sabnekar
INTRODUCTION TO BUSINESS VALUATION
- Understanding Line Items on Income Tax Return Forms and Schedules
- Determining Income Levels of Self-Employed Individuals
- Technicalities of Pass-Through Entities
1:15 - 2:00, Laura S. Leopardi and Susannah D. Sabnekar
- What is a Business Valuation
- When is a Business Valuation Needed?
- Uses of Business Appraisals
- What is Involved in the Business Valuation Process?
- Documents Requested to be Reviewed
- Analyses Performed
- Interviews Conducted
- Facility Tours Taken
- Valuation Synthesis
- Valuation Conclusions and Opinions
- Who Performs Business Valuations?
- Trade Associations
2:00 - 2:45, Laura S. Leopardi and Susannah D. Sabnekar
- Asset-Based Valuation Methods
- Income-Based Valuation Methods
- Market-Based Valuation Methods
3:00 - 3:30, Laura S. Leopardi and Susannah D. Sabnekar
- Minority Interest Discount for Lack of Control
- Lack of Marketability Discount For Lack of Liquidity
- Key Person Discounts
- Blockage Discount
- Undivided Property Interest Discount
- Nonvoting Discount
3:30 - 4:30, Laura S. Leopardi and Susannah D. Sabnekar
- Requests For Modification of Spousal Maintenance or Child Support Payments
- ProFinish Case Ruling
- Rueschenberg v. Rueschenberg Case Ruling and Application in Arizona Family Court
- Other Relevant or Timely Case Rulings