Understand why transactions are entered the way they are and the important reports the partners of the firm need to run a profitable law firm.
Many paralegals are handed the job of bookkeeper by default or out of need. Since this is not their area of expertise, they may be told or shown how to make the entries, but they are never shown why or helped to understand the big picture when it comes to the accounting. This course will help the paralegals responsible for handling the bookkeeping for the law firm understand why transactions are entered the way they are and learn some accounting terminology. They will also learn the four most important reports the partners of the firm need to run a profitable law firm.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Accounting Terminology
- Accounts Receivable
- Accounts Payable
- Assets
- Liabilities
- Cash Flow
- Income
- Expenses and More
Balance Sheet
- Assets
- Liabilities
- Equity
Profit and Loss
- Income
- Expenses
Cash Flow Report
- What Is a Cash Flow Report?
- What Is Included Line by Line
Statement of Retained Earnings
- What Is the Statement of Retained Earnings?
- How Does This Vary by Entity Type?
Other Financial Reports for Law Firms
- Light Discussion on Other Reports
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on February 24, 2022.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Lynda Artesani
Artesani Accounting
- Founder of Artesani Accounting and The Proper Trust, LLC
- Both of which are dedicated to addressing the financial needs of attorneys and law firms
- Co-founded The Accountant’s Law Lab, an exclusive group that provides education for bookkeepers and accountants on the complexities of managing law firm clients
- Co-host of The Accountants Law Pod podcast, where she shares insights and strategies for success in legal financial management
- Author of Modernize Your Law Firm, a book designed to help legal professionals adapt to contemporary challenges and improve their operational efficiency
- Strives to empower attorneys with the financial knowledge necessary to thrive in today’s competitive landscape
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More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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