John Sylla : Courses and Seminars
Legal Elements of Accounting
This mini-course introduces accounting from a mixed law and business perspective. It covers basic concepts and vocabulary of accounting, not so much to instill proficiency with the mechanics of debits and credits as to serve as a foundation from which to understand financial statements. The course then examines accounting from a legal perspective, including consideration of common accounting decisions with potential legal ramifications. It also analyzes throughout the reasons for and roles of financial accounting and auditing, as well as the incentives of various persons involved in producing, regulating, and consuming financial accounting information. The course will touch on some limitations of, and divergent results possible under, generally accepted accounting principles. Current cases, proposals, and controversies will be discussed. Attendance and participation will be very important. Grades will be based on a take-home final examination. Students with substantial prior exposure to accounting (such as students with an MBA, joint MBA/JD students, and undergraduate finance or accounting majors) may not take the course for credit. Students may not receive credit for both LAWS 79102 (Legal Elements of Accounting) and LAWS 79112 (Fundamentals of Accounting for Attorneys). Class will meet for nine sessions, five days during week 2 (Monday January 12-Friday January 16, 2015) and four days during week 4 (Tuesday January 27-Friday January 30, 2015).