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Introduction to Company Accounts for Lawyers

An Introduction to Understanding Company Accounts

Overview

Law firms have a tendency to claim that their lawyers are 'commercially aware'. However, not all law firms can actually deliver on that claim. You can gain a real competitive edge if you can demonstrate to your clients that you really understand their finances and what makes their business tick.

This short e-learning course is designed to give lawyers a basic introduction to financial reporting, concentrating on the two key statements in any set of accounts - the profit and loss and the balance sheet.

 

Outcomes

Understanding financial accounts and related documents is a critical factor in many legal matters. This course will give lawyers the basic knowledge of what to look for, and be alert to, when reading accounts.

Once you've completed this introductory course to understanding company accounts, you will:

  • Begin to conquer any fear of accounts
  • Understand the basic components of every set of accounts
  • Know how they fit together
  • Understand how they add up
  • Start to develop a sense of what to look for
Introduction to Company Accounts for Lawyers - Wordcloud

Course Content

Our e-learning course will provide you with the skills to interpret the financial accounts of a business. Allowing you to understand the financial status, profitability and cost base of your business client or other party.

The course covers:

  • Find your way around a Profit & Loss account
  • Understanding the components of a balance sheet
  • The five key elements in every set of accounts
  • The difference between gross profit, operating profit and net profit
  • What are PBIT and EBIT?
  • Exercises to test your understanding
Format

E-learning

Duration

2 hours

Delegates

For fee earners or legal support staff who 'know they should know this stuff' but find it hard to get to grips with the numbers. This course is the ideal starting point if they want to improve their commercial awareness.

If you want to buy multiple subscriptions for your department, please contact Kath Kinch.

Other Training Formats

We can also offer training on this topic as an onsite/remote course or as a PSC Elective.

 

To find out more about our Company Accounts for Lawyers course, please contact Linda Moran:

Phone: 0114 273 8300
Email: Linda@KinchRobinson.com