Accounting for the Small Legal Practice | L4002

This course will provide an introduction to basic accounting fundamentals, provide key concepts that apply to attorneys and solo practitioners, and explore situations where accounting plays a role in the practice of law. Topics include: understanding the balance sheet, income statement, statement of cash flows, and changes in ownerÂ’s equity; accrual vs. cash basis accounting; partnership vs. LLC; income tax accounting; money management and cash flow in a law practice; retainers; trust accounts; income measurement; auditing; and, billing/fees/timekeeping. (3 credits) Fall

Prerequisites: N/A
Credit Hours: 3
ULW: This course does not satisfy the Upper Level Writing requirement (ULW)

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