Business and Financial Statements


Robert N. Anthony and Leslie Pearlman Breitner

Essentials of Accounting

This book is a self-teaching, self-paced introduction to financial accounting. It covers balance sheets, income statements, and statements of cash flows. The Fuqua School of Business at Duke University assigns this textbook as summer reading for entering students. Lawyers will understand it.

Robert B. Dickie

Financial Statement Analysis and Business Valuation for the Practical Lawyer

Mr. Dickie is one of the most well-regarded CLE teachers of accounting. His book provides the basics, plus sophisticated material for the more intrepid reader.

Robert W. Hamilton and Richard A. Booth

Business Basics for Law Students

Among the topics covered are the following: time value of money, real estate transactions, insurance, valuation, accounting, bankruptcy, how the stock market works (not SEC rules, but how are shares bought and sold), dividends, and mergers and acquisitions.

Howell E. Jackson, Louis Kaplow, Steven M. Shavel, W. Kip Viscusi and David Cope

Analytical Methods for Lawyers

Chapters Four and Five focus on accounting, the interpretation of financial statements, and finance. West will be publishing this book not only in its entirety, but also as a series of smaller books. For example, Chapters Four and Five will probably be available as a stand-alone book.

Harvard Business School

Harvard Business School is a terrific resource for teaching materials. Its course materials are available for purchase on-line. Problems sets are available, for example, on the statement of cash flows and financial analysis. Additionally available are HBS professors' Notes on such topics as auditor's reports, venture capital, bank loans, mergers and acquisitions, and ethics in business transactions.

Terry Lloyd

Accounting and Finance for the Practicing Attorney: What Every Lawyer Needs to Know About Corporate

The core of these materials is a programmed learning text that guides the user through the application of basic financial concepts in legal practice. Advanced modules on financial analysis and valuation principles are also included. What makes the materials unusual is that a person can be reached at an 800 number to answer any questions that the user has. Full disclosure: I have previously taught accounting CLE courses with Terry Lloyd.

The Wall Street Journal

The Journal can be an excellent teaching tool. It has a web site just for professors. The Journal offers students a one-semester subscription at a discounted rate. (If more than 10 students subscribe, the professor receives a complimentary one-year subscription.) Included with the subscription is access to WSJ.com and a student guide to the paper including a section on how to read the stock tables. The Journal has representatives who would be more than happy to work with anyone who is thinking about using the newspaper.

Management Simulations, Inc.

Capstone and Foundation -- Business Simulation Games

Management Simulations, Inc. provides on-line business simulation programs. Participants work in teams and compete against each other running businesses, all of which are in the same industry. Each management team chooses a business strategy, creates its product, advertises, underwrites research and development, etc. After each round of the game, each team is ranked by several performance measurements: profits, stock price, market share, and ROI. These simulation programs are widely used in college business courses and by corporations. Among the corporations that use these programs as training tools are Allstate, General Electric, and Pricewaterhouse Coopers. The cost per student in 2005 was $39.99. The cost for businesses is significantly more.

Daniel Lipsky and David Lipton

A Student’s Guide to Accounting for Lawyers

This book gives the reader an understanding of accounting concepts without requiring the reader to learn T-accounts. It has the most lucid description of treasury shares that I have ever read.

www.amosweb.com

This website's explanation of economic terms and concepts is fabulous (e.g., fed funds; discount rate; how the Fed works).

www.investopedia.com

This website includes dictionaries, articles, and tutorials on investments. In addition, there are “simulator” training materials and a fantasy investing game.

www.pli.edu/public/newsletters

Each week the Pocket MBA writes a mini-essay in simple, understandable language explaining business and economic concepts. Once you sign up, you gain access to past essays. A great resource in easy bite-size pieces.

www.streetauthority.com

This website has a financial glossary that explains many terms related to equity and debt investments. In addition, it has mini-lessons on trading exchanged traded funds and options.

www.vanguard.com

This website has basic information about investing and may be a good place to start for a neophyte. Click on the "Planning and Education" tab.

www.wikipedia.org

This website is an encyclopedia, covering far more than business-related topics. Some business related topics are dealt with tersely, while others are given a more extensive treatment.

The Stock Market Game

Even though this simulation game was originally created for students in grade school through college, at least one investment banking firm has also used it. The game is played under the auspices of the Securities Industry Association.