University of San Francisco
SCHOOL OF LAW
ACCOUNTING FOR LAWYERS
FALL 2015
FACULTY:
Dominic L. Daher, MAcc, JD, LLM in Taxation
Director of Internal Audit and Tax Compliance
Adjunct Professor of Law
E-MAIL:
TELEPHONE:
dldaher@usfca.edu
415-422-5124
OFFICE:
OFFICE
HOURS:
Lone Mountain North 336
Monday 9AM-11AM and by appointment
Course Information
Course description: Accounting for Lawyers will provide a technical and
conceptual foundation in financial accounting skills
which are relevant for attorneys who advise business
entities. This course will emphasize the interpretation
and use of financial statements and accounting
schedules in the practice of law and their related legal
implications.
Special attention will be given to the principles and
procedures that are involved in accounting for complex
business transactions (including merger and acquisition
transactions) and their impact on financial statements.
Ultimately, Accounting for Lawyers will allow students
to identify and address ethical issues and accounting
dilemmas which could potentially result in adverse
legal consequences.
This course will be very different from most
traditional Law School courses which typically
employ an extensive study of relevant case law;
instead, this course will primarily focus on
interpreting and applying relevant accounting
pronouncements and concepts.
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Textbook
Required reading:
Introductory Accounting, Finance, and Auditing for Lawyers
Lawrence A. Cunningham (6th edition)
ISBN:978-0-314-28045-9
Other Reference Material
Web sites:
Wall Street Journal www.wsj.com
Google Finance http://finance.google.com/finance
Financial Accounting Standards Board
http://www.fasb.org/home
SEC http://www.sec.gov/
Grading
Your grade in this class will be determined as follows:
Annual Report Project – 25%
Final Examination – 75%
Note: Class participation is strongly encouraged;
accordingly, for those individuals who regularly participate
in class discussion in a meaningful way additional points
will be added to your final exam score (up to an additional
5%).
Policies
ATTENDANCE: You are expected to attend all class
meetings. Because of the nature of the class structure and the
nature of accounting education, where one concept builds
upon the last.
Additional Information
Class documents will be uploaded to the course web site on
TWEN.
I.
Financial Statements and the Three Pillars
Readings:
Chapter 1
Assignment:
You will be broken up into groups, and will be asked to
select a publicly traded company as the focus of
your annual report review. No duplication of companies will
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be allowed. During class on first class meeting, I will collect
your company choice. At the market close on the day of our
second class meeting, a hypothetical investment of $1 million
dollars will be made in each company and the stock performance
will be tracked through the market close on our second the last
class meeting. Each team is expected to include in their report a
summary of their stock performance. Please refer Section XI of
this syllabus for more details about the project.
II.
The Accounting Equation and the Accrual Accounting System
Readings:
Chapter 2; Chapter 3
Assignment:
Problem 2A, Problem 3
III.
Revenue Recognition
Readings:
Supplemental materials to be posted on the course web site.
Assignment:
For each of the companies selected, each group will
present a five minute report summarizing the revenue
recognition method(s) used.
IV.
Fixed Assets and Depreciation
Readings:
Chapter 5
Assignment:
Problem 5 (parts (a), (b)(i), (c)(i) only)
V.
Other Assets and Other Liabilities
Readings:
Chapter 6
Assignment:
None
VI.
Capital Accounts
Readings:
Chapter 7
Assignment:
None
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VII.
Statement of Cash Flows
Readings:
Chapter 9
Assignments:
Conceptual Question 9
VIII.
Financial Statement Analysis
Readings:
Chapter 8
Assignment:
Problem 8
IX.
Audit Policy
Readings:
Chapter 15
Assignment:
Conceptual Question 15
X.
Perspectives on the Lawyer’s Role
Reading:
Chapter 16
Assignment:
Conceptual Question 16
XI.
Annual Report Project Presentations
Assignment:
This project will be the analysis of an actual company's
annual report.
Working in groups, the report will consist of
the following: Company Introduction/background, Company
Plans and Industry Standing, Financial Statement Analysis,
Accounting Policies, and Conclusions.
Your annual report project is due in class after your class
presentation. Your report shall not exceed 10 pages
typed in double-spaced 12 point Times New Roman font.
You are required to make a presentation
highlighting the findings of your report which cannot
exceed 15 minutes.
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