Financial Statements for Lawyers: Putting the Square Peg in the Round Hole

(1260 Ratings)

Produced on: July 28, 2015

Course Format On Demand Audio

Taught by

Categories:

Course Description

Time 65 minutes
Difficulty Beginner

Understanding accounting is essential for anyone involved in business decisions. As such, attorneys must comprehend business financials to properly and effectively represent their clients. In this program, Bart Basi provides attorneys with the fundamental concepts and applications of accounting necessary to properly advise on major business decisions.

 

Learning Objectives:

I.   Grasp the fundamental concepts of accounting 

II.  Apply these concepts in the preparation of financial statements

III. Advise business clients on decisions derived from financial statements

 

 

Faculty

Dr. Bart A. Basi

The Center for Financial, Legal & Tax Planning, Inc

Dr. Basi is a specialist in the areas of business succession, business valuation, mergers and acquisitions, retirement and estate planning, strategic planning, and tax aspects of business decisions for closely held and family businesses. He speaks nationwide, writes, and researches on all of these areas. He has written five loose-leaf bound books, over 300 articles, and has worked with hundreds of businesses and associations. Journals that have published Dr. Basi’s work include Money Matters, The American Journal of Small Business, the Journal of Family Law, The Journal of Estate Planning, The Tax Lawyer, Small Business Taxation, Taxation for Individuals, Taxation for Accountants, Taxation for Lawyers, The CPA Journal and The Tax Executive.

Dr. Basi is the author of  “The Tax Report,” a bi-monthly report on income and estate tax matters for closely-held businesses, “Accounting and Taxes,” a monthly column distributed to individuals and trade journals, and the “Tax Tip,” a monthly tax advisory for the closely-held and family business.

Education

  • Bachelor’s Degree in Accounting, Utica College of Syracuse University
  • Master’s Degree in Business Administration, Syracuse University
  • Juris Doctor in Law, University of Louisville
  • Doctorate in Economics and Accounting, Indiana University
  • Post-Graduate study in Taxation, Stanford University

Professional Licenses

  • Certified Public Accountant – Indiana (1967-2000)
  • Attorney at Law:
    • Kentucky (1969)
    • Pennsylvania (1972-1982)
    • Illinois (1978-present)
    • New York (2010-present)

Academic Affiliations

  • Currently holds the rank of Professor Emeritus at Southern Illinois University.
  • Formerly affiliated with Penn State University, Indiana University, The University of Louisville, and Syracuse University specializing in corporate taxation, estate planning, and business valuations.

Business Affiliations and Memberships

  • Senior Advisor, The Center for Financial, Legal and Tax Planning, Inc. The Center values approximately fifty companies per year.
  • Memberships have included the American Bar Association’s Tax Committees on estate and gift taxes, business succession, and business planning and valuation.

Former Awards, Honors and Recognitions

  • Listed in Harvard Business School Profiles in Business and Management:  An International Directory of Scholars and Their Research.
  • Recipient of educational grants for advanced course work in Taxation from the Practicing Law Institute, New York.
  • Listed in The Tax Analyst Directory and the Lexis Computer Tax Library as a tax professional in the U.S., specializing in family and closely held companies.
  • Listed in Who’s Who:  Comprehensive and National Registries; International Registry;  Leading American Executives, and Among America’s Teachers.
  • Listed as an expert in taxes and business valuations in the Wisconsin and Illinois Register of Expert Witnesses.
  • Member of Phi Kappa Phi, national honorary, Beta Alpha Psi, accounting honorary, and Beta Gamma Sigma, business honorary.
  • Member of the Institute of Business Appraisers

Reviews

CT
Charles T.

Excellent presentation

AK
Ann K.

Very effective presenter. Clearly communicated the concepts with easy to understand examples.

JK
Jeffrey K.

Great presentation.

TU
todd u.

I loved the presenter.

SD
Susan D.

This program was exceptional. I intend to listen to it again. Great materials as well! Thank you!

NC
Nicole C.

Made a complicated subject easier to understand - very good!

DS
Donald S.

Very helpful

ND
Nicholas D.

Excellent program.

DW
Donna W.

I wish that this program had been longer so that the instructor could have spent more time on the last few slides. He is excellent, however.

BE
Barbara E.

superb

RM
richard m.

helpful presenter, would like more from him

ML
Michael J. L.

Very good and really an excellent presentation.

DW
Donald W.

great presentation! dynamic!

SD
Stephen D.

Dr. Basi was the best presenter I've seen. These CLE things are often hard to watch. I was surprised at how quickly this one was done, and wanted to hear more. That's a rare thing. I never comment either. I did here, because this man really knows how to present rather dull material in a way that doesn't make it dull. Kudos.

LL
Lorenzo L.

Mr. Basi is exceptionally knowledgeable and interesting in his delivery and anecdotes.

DD
David D.

Excellent - would have liked this in a two ot four hour format.

SM
stephen m.

best program viewed to date presenter was excellent

PS
Phil S.

Very helpful and informative

SK
Steven K.

Excellent overview

JH
James L H.

Excellent course. Need more like this!!!!

JL
John L.

Excellent practical advice. I wish there was more time for his real-life experiences. Great speaker with the ability to simply complex subjects.

AR
Arthur R.

Excellent job by Dr. Basi

DN
donald n.

Excellent clear presentation

JS
jerold s.

Outstanding presentation.

WS
William S.

Excellent program. Dr. Basi is a fine instructor.

JW
Joshua W.

Fantastic presenter! Wonderful use of a real life example to illustrate the difference between financial accounting books and tax accounting books.

DK
Don K.

helpfull

JD
John D.

Mr. Basi is a fantastic presenter. I understood all of the information he presented...

LS
Larry S.

Dr. Basi is great. Really enjoyed his presentation and learned a lot.

JW
John W.

Best presenter on Lawline.

KW
Kevin W.

NEEDS TO BE MUCH LONGER -- VERY VALUABLE INFORMATION

JC
John C.

Very clear presentation of basic financial principles with easy to follow examples. Much appreciated. The nuts and bolts instruction begins about 27 minutes in.

MB
Michael B.

Great presentation!

BA
Blanche A.

EXCELLENT AND ENJOYABLE

SP
Stuart P.

Basi does a great job as always

TH
Teresa H.

Excellent Presentation

AA
Aaron A.

Great presenter!

BV
Bart V.

Excellent presenter

EC
Eugene A C.

Outstanding teacher who provides generous details in written materials.

HG
Henry G.

Dr. Basi is a fantastic instructor. Regardless of the subject matter, he always makes it interesting and relevant by bringing in real-world examples from his years of experience.

CH
Christopher H.

Dr. Basi is a very good presenter

JT
Joseph T.

Excellent presenter

SG
Stephanie G.

I enjoyed the presentation. Good speaker; good presentation.

MG
Marion G.

excellent

LH
Larry H.

Given the subject matter, the presenter was truly engaging and informative.

FC
Felix C.

Basi is the best!

WM
William M.

NIcely done

RK
Robert K.

best lawline presenter

LH
Lee H.

Good insights into recognizing that there are different accounting methodologies!!! Having said that, it still takes some doing to really understand accounting differences--cash v accrual etc!!! Court provides a heads-up but more is required to really understand and apply the different accounting methods!!!

GF
Gary F.

Excellent program.

JC
Jacob C.

Exceptional.

SS
Scott S.

Dr. Basi was an engaging and effective speaker who made dry concepts interesting.

JB
Jerod B.

He is the best presenter lawline has

MH
Mitchell H.

This speaker is consistently good.

RC
Robert Z C.

Good and practical class. Would love to see a more "in depth" version of accounting for lawyers.

JL
Jonathan L.

I've viewed other programs over the years with Bart Basi and he's always very informative yet practical.

LR
lawrence r.

very clear and cogent presentation

TW
Tadia W.

Great introduction to the subject.

RB
Ronald L. B.

Every program presented by Dr. Basi is incredibly good.

PM
Pinchas M.

First rate lecture

LL
Lawrence L.

bart is great

SY
Samuel Y.

Dr. Basi is one of Lawline's best presenters. A great intro level program.

JH
John H.

Bart Basi is always good.

DB
Dwight B.

great

LL
Lynn L.

Very good basic information.

FC
Francine C.

Very helpful

DM
David M.

Good online seminar

MO
mitsuko o.

good

DB
David B.

Dr. Basi is a fantastic speaker.

ML
Mei L.

He is excellent.

DB
D. Benjamin B.

Good basic overview of financial accounting and common misunderstandings by non-accountants

RR
Russell R.

Excellent

EG
Edward G.

great presentation

AF
A E F.

Wonderful, knowledgable speaker but seemed to run out of time. Material might be better discussed in multiple sessions.

CL
Coby L.

Outstanding program. Thank you. Dr. Basi was excellent in his presentation and with his materials.

RM
Ryan M.

This was one of the best speakers that I have seen in one of these. Pretty clear that he was a teacher at one point in his career.

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