Brian McDonough will be speaking in the webinar “Financial Literacy 101: What Lawyers Need To Know” on Thursday, March 20th at 12:00 p.m. EDT. Financial literacy is a crucial skill that many lawyers do not develop during law school, especially those without a background in business or accounting. This webinar will break down key financial concepts including how to read financial statements, understand business accounts and interpret essential information. Participants will gain valuable insights to better analyze financial data and know when to involve accounting professionals, enhancing their ability to serve clients effectively.
Attendees will learn how to:
- Read financial statements including profit-and-loss statements, balance sheets and annual reports from corporations.
- Review the different types of accounts maintained by corporate entities.
- Appreciate the qualifications that appear in financial statements and understand how to read the notes that appear in them.
- Identify the kind of information that an accounting expert will need to render assistance to you and what they will do with that information.
- Develop strategies to request financial information in discovery demands or court orders.