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ISBN: 9781552215593

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Financial Skills for Professionals

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It is important for professionals and lawyers in commercial, corporate, family, estate, civil litigation, and criminal practices to understand the rudimentary concepts of accounting and financial law. Professionals often fear financial statements. This book uses clear, concise explanations and simple numerical examples of what lawyers and professional persons need to know to understand financial law and statements.

Contributors

Vern Krishna

Vern Krishna, CM, QC, FRSC, FCPA, has earned a B Comm (Manchester), MBA, LLB (Alberta), DCL (Cambridge), and LLM (Harvard). He is now a Professor of Law at the University of Ottawa. He is also Of Counsel, Tax Chambers LLP (Toronto). Professor Krishna is Queen’s Counsel, a member of the Order of Canada, a recipient of the Queen’s Diamond Jubilee Medal, the Governor General’s 125th Anniversary Medal, and a Fellow of the Royal Society (Canada). He has been a Bencher of the Law Society of Upper Canada since 1991 and served as its Treasurer from 2001–03. Professor Krishna is the author of seventeen texts in law, including, most recently, Volumes 1 (Personal) and 2 (Corporate) of The Fundamentals of Canadian Income Tax, Income Tax Law (2012), three volumes on general taxation, corporate taxation, and international taxation in Halsbury’s Laws of Canada, and the Editor of Canada’s Tax Treaties. He is listed in Who’s Who, and Lexpert has recognized him in Best Lawyers in Canada in Tax Law, Estates and Trusts, and Appellate Advocacy.

Chapter Title Contents Contributors Pages Year Price

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- 4 $0.40

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Topics covered in this chapter include a definition of accounting, an overview of accounting and finance, the different individuals who use financial statements, the different types of lawyers … 20 $2.00

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Topics covered in this chapter include the definitions of various terms, including balance sheet, assets, income statement, retained earnings, shareholder’s equity, statement of cash flows … 47 $4.70

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Topics covered in this chapter are divided into eight sections: Basic Concepts which covers topics such as judgements and estimates, Business Assumptions such as going concern, constant dollars, … 19 $1.90

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Topics covered in this chapter include an overview of GAAP (generally accepted accounting principles), the role of management in selecting GAAP, accounting standards, fair value measurement, and … 15 $1.50

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Topics discussed in this chapter include and overview of simple and compound interest, retirement planning, compounding long-term debt, future value, annuities, saving for college, present value, … 26 $2.60

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This chapter provides an overview of the sections of a balance sheet, each of which will be expanded upon in the subsequent chapters. Topics covered in this chapter include the balance sheet … 12 $1.20

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This chapter provides an overview of different types of assets that appear on a balance sheet. Assets that are discussed include cash, cash equivalents, restricted cash, marketable securities, … 40 $4.00

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This chapter provides an overview of the different current and long-term liabilities that can appear on a balance sheet. These include accounts payable, notes payable, accrued liabilities, … 27 $2.70

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This chapter provides an overview of different types of equity. These include shareholders equity, reduction of stated capital and tax aspects of equity. 31 $3.10

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Topics covered in this chapter include an overview of income statements, the income formula, the structure of an income statement, changes in market value, stuffing SOX, the recognition of … 23 $2.30

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This chapter provides an overview of the contents and function of a statement of retained earnings. Topics discussed include dividends, prior period adjustments, materiality, and appropriations. 9 $0.90

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This chapter provides an overview of the contents and function of a statement of cash flows. Topics discussed include the components of a statement, and a sample statement of a hypothetical company. 6 $0.60

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This chapter provides an overview of the footnotes and appendices which are included with a financial statement. Topics include, illustrative notes, notes regarding the basis of measurement, … 8 $0.80

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Topics included in this chapter are the role of an auditor compared to the role of a lawyer, types of financial reports, notice to reader reports, and whistleblowing. 24 $2.40

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This chapter discusses ways of interpreting a financial statement and assessing the success of a company based on its finances. Topics discussed include Return on Equity (ROE), and profitability, … 25 $2.50

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Topics discussed in this chapter include the Enron Scandal, principles of liability, fraudulent misrepresentation, and an overview of notable accounting scandals. 24 $2.40

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Topics discussed in this chapter include business contracts, employment contracts, negligent misrepresentation, and income tax. 20 $2.00

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Topics discussed in this chapter include why you should plan for retirement, basic concepts of retirement planning, the role of income tax, statutory tax shelters, and investment income. 44 $4.40

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Appendices include time value tables and the financial statements of a hypothetical company. 10 $1.00

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- 66 $6.60