Courses

    An introduction to accounting principles and financial analysis, their institutional context, and their relation to law and law practice, which is designed for students without prior business education. The course introduces the accounting system's basic components: the fundamental equation, the accrual system, inventory accounting, depreciation, cash flow accounting, and accounting for mergers and acquisitions, among others. The capital accounts and their overlap with corporate law's legal capital rules get special emphasis. The course goes on to introduce financial statement analysis, toward the end of showing how accounting statements can be used to enhance understanding of the performance of a particular business. Finally, toward the end of showing the accounting system's limitations as a tool in finance and investment, the course takes up basic principles and techniques of valuation, the time value of money, capitalization rates, and net cash flows.