Schedule and Faculty

Schedule times listed below are for the live seminar. Times for replays may differ due to varied start times and abbreviated lunch and break periods. Please refer to the DATES/LOCATION tab for individual replay start times.

presented by Douglas R. Smith, CPA

Doug Smith has taught accounting subjects to attorneys and non-financial managers for nearly twenty years. Lawyers who have attended his seminars applaud his ability to teach the principles of accounting and financial statements in easy-to-understand language and concepts. Mr. Smith also provides private training, consulting services to law firms, and expert testimony on accounting matters.

8:30 – 9:00 a.m.

CHECK-IN & CONTINENTAL BREAKFAST

9:00 – 10:30 a.m.

Basic Concepts of Accounting

• Generally Accepted Accounting Principles (GAAP) and non-GAAP reporting

• Levels of assurance provided by CPA-prepared financial statements

• Net income vs. cash flow

• Depreciable assets

• Capitalizing vs. expensing

• Inventory

• Other fundamental concepts

10:30 – 10:45 a.m.

BREAK

10:45 – 12:15 p.m.

Overview of Financial Statements

Elements of and keys to:

• Balance sheets

• Income statements

• Statements of cash flow

• Notes to the financial statements

• Accountants’ reports

12:15 – 1:15 p.m.

LUNCH (on your own)

1:15 – 2:45 p.m.

Understanding and Analyzing Financial Statements

Important issues and considerations, including:

• Short-term liquidity

• Long-term solvency

• Return on investment

• Profitability and earnings

• Financial forecasts

• Commonly used ratios and more

2:45 – 3:00 p.m.

BREAK

3:00 – 4:30 p.m.

Common Manipulations and Special Reporting Issues

Common types of misleading practices – how to discern them and what your options are.

• How a financial statement can follow the rules and still be misleading

• How to ask the right questions to avoid being misled

• Trouble spots and signs to avoid reliance on financial reports