The eLearning Center for Gatlin Education Services

Intended for professionals who do not have a background in finance, this course provides an overview of the basic principles of accounting. The course discusses the foundational accounting equation and its components (assets, liabilities, owners'' equity), and takes an in-depth look at the annual reports of General Electric and Southwest Airlines. After taking this course, you will be able to effectively read and analyze any corporate annual financial statement.

Basic Accounting and Financial Analysis for Lawyers
    I. Introduction
        A. Why Learn Finance?
        B. Course Overview
        C. Finance vs. Accounting
    II. Accounting Equation
        A. Basic Equation
        B. Cash
        C. Inventory
        D. Accounts Receivable
        E. Which is Best?
        F. Prepaid Expenses
        G. Property, Plant & Equipment
    III. Liabilities
        A. Accounts Payable
        B. Notes Payable
        C. Bonds Payable
        D. Accrued Items
    IV. Owners’ Equity
        A. Common Stock
        B. Fair Trading Value
        C. Retained Earnings
        D. Book Value
        E. What is Not on the Balance Sheet
        F. Buying Back Shares
    V. Baron Coburg
        A. About Baron Coburg
        B. The Case
        C. Facts of the Case
        D. Beginning Balance Sheet
        E. Frederick: Ending Balance Sheet
        F. Ivan: Ending Balance Sheet
        G. Income Statement
        H. Ivan: Income Statement
        I. Frederick: Income Statement
        J. Who is the Better Farmer?
        K. Measuring Margins
        L. Measurements
        M. Other Measurements
        N. Cash Flows
        O. Earnings
        P. Profit
        Q. What is Most Important?
    VI. Cash Flows
        A. Ratio Analysis
        B. Interpretation of Ratios
        C. Accrual Basis of Accounting
        D. Cash Flow Statements
        E. Depreciation, Accounts Receivable, Accounts Payable
        F. Cash Flow From Operations
        G. Cash Flow from Investment
        H. Raising Capital
        I. Net Earnings
    VII. Return on Owners’ Equity
        A. Return on Owner Equity: Dupont Model
        B. Asset Turnover
        C. Leverage
        D. Interpreting Return on Owner Equity
    VIII. General Electric
        A. Income Statement
        B. Balance Sheet
        C. Footnotes
        D. Economic Value Added (EVA)
    IX. Southwest Airlines
        A. Corporate Strategy
        B. Income Statement
        C. Balance Sheet
        D. Cash Flows
    X. Other Finance Topics
        A. Accounting Fraud
        B. Amazon.com & Pro Forma Financial Statements
        C. International Accounting Standards
    AfterWords^SM