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Financial Statements for Lawyers: Putting the Square Peg in the Round Hole (Update)
Produced on August 08, 2019
Course Information
Course Description
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 fundamental program, business and tax law attorney Bart Basi provides attorneys with the fundamental concepts and applications of accounting necessary to properly advise their clients on major business decisions.
Learning Objectives:
- Grasp the fundamental concepts of accounting
- Apply these accounting concepts in the preparation of financial statements
- Advise business clients on decisions derived from financial statements
Credit Information
Faculty
Bart 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
The faculty was very knowledgeable about accounting, but the program did not provide applicability specific to the practice of law.
Best of the Lawline courses that I've taken and I can't stand accounting.
Excellent course and instructor
Great overview course.
This course was GREAT!!! I would love to do more business CLEs from Bart. He was engaging, easy to understand, and on point.
He was fantastic and his energy level was off the chart.
really liked this presenter. He knew what he was talking about and he was great at presenting it to non-accountants.
The speaker was excellent.
Excellent explanation of managerial accounting versus financial accounting. great overall course
Really great speaker with great examples
Excellent overview for attorneys in any corporate business role. The presenter was certainly an expert in both accounting and legal concepts. His inclusion of specific examples and anecdotes elevated his presentation.
very engaging speaker
This was like watching Larry David playing Bernie Sanders playing a tax attorney. Even my children were watching this with me. SO knowledgable and enjoyable. Thanks for making a CLE on a usually dry topic so much fun.
Very good course.
excellent examples and frankly a very engaging presentation!
Great presentation!
Attorney Basi is an excellent instructor with an extensive knowledge of Accounting as it applies to lawyers providing counsel to their clients.
The speaker who is both and accountant and lawyer bridges very well accounting and lawyering. We need some basic acctg knowledge
I wish that this program was longer because it felt rushed at the end. I learned so much from Mr. Basi and would have loved if he could have gone into more details. This was outstanding!
One of the best I've participated in.
very well done; compressed a lot of material into short time
This was one of the best online CLEs I have encountered. The real world examples were terrific!
I like the facilitator whose presentation is excellent and he is knowledgeable.
5.0
That’s who I would hire to sell my business.
Absolutely wonderful presentation! Great scope, excellent teacher. Stated very realistic expectations at outset and met them. Well done!
Dr. Basi delivered an informative lecture with practical accounting principals for attorney use.
Very useful but very quick paced.
This speaker was very engaging. I took a lot away from this course.
Great hour spent
good explanation of business evaluation methods
Very knowledgeable and engaging speaker on a topic that should be relevant to all attorneys.
Excellent!
Very useful presentation, thank you!
The instructor is awesome. This is the second of his courses that I've attended, and i'll be looking for more!
Excellent presentation on valuable material. Thank you!
I really liked the very direct approach.
This is an incredibly helpful program for any lawyer dealing heavily with financial matters. This speaker is excellent on these topics.
Thanks
Excellent speaker. Very useful information. Would like a longer course on this topic.