Financial Statement Analysis for Attorneys

Agenda / Content Covered

1. Intro to Accounting
   10:00 - 11:30, Bruce T. Andersen
   1. Double Entry System & GAAP
   2. Intersection with the Legal Practice
2. Financial Statements Primer
   11:45 - 1:15, Bruce T. Andersen
   1. Balance Sheets
   2. Income Statements
   3. Statements of Changes in Equity
   4. Statement of Cash Flows
   5. Why the Footnotes Matter
3. Is the Business Healthy? Financial Analysis 101
   1:45 - 2:45, Mark S. Cherry
   1. Financial Analysis Overview
   2. Profitability Ratios
   3. Liquidity Ratios
   4. Leverage Ratios
   5. Likelihood of Bankruptcy
   6. Need for Capital
4. What's the Business Worth?
   3:00 - 4:00, Mark S. Cherry
   1. Common Valuation Methods
   2. Small Business Valuation Case Study
5. Ethics and Finance
   4:00 - 5:00, Steven Fried
   1. Staying within Your Zone of Competency
   2. Doing Business with Clients
   3. Confidentiality Concerns when Dealing with Financial Experts
   4. Identifying and Avoiding Conflicts of Interest

Accreditation Details:

Bruce T. Andersen is the president of BTA Corporation, a boutique firm located in Los Angeles, California, providing tax, accounting, and consulting services to small businesses. Mr. Andersen is a certified public accountant. He has taught management science and information systems at California State University in Bakersfield. For the last 14 years, Mr. Andersen has been a member of the faculty at the University of Phoenix School of Business. He is a member of California Society of Certified Public Accountants. Mr. Andersen earned his B.S. degree from Iowa State University, his M.S.B.A degree from Boston University, his M.B.A. degree from California State University in Bakersfield, and his M.S. degree (taxation) from Golden Gate University. After watching the cannabis industry for several years, the firm set up a division specifically for the cannabis industry in 2018, branded as CannabisCPA.tax, providing tax, audit, accounting, and systems support to the cannabis industry.

Mark S. Cherry is an attorney with Mark S. Cherry Attorney at Law, PC, which is a general practice professional law firm in Cherry Hill, New Jersey, that in addition to the general practice of law, assists homeowners across New Jersey. His firm has extensive experience in foreclosure prevention, real estate, tax law, and bankruptcy law. Mr. Cherry is admitted to practice in New Jersey and Pennsylvania; and before the federal district courts, bankruptcy court, Federal Court of Appeals, and U.S. Tax Court. In addition to being an accredited civil mediator, he is also the member of the American Institute of Certified Public Accountants (AICPA), American Association of Attorney-Certified Public Accountants (AAA-CPA), and New Jersey Association of Professional Mediators (NJAPM). Mr. Cherry earned his J.D. degree from the Delaware Law School of Widener University and his B.B.A. degree from Temple University (Moot Court Honor Society).

Steven Fried is based in New York City. A graduate of Tufts University and the University of Tennessee College of Law, he has been practicing since 1996, consulting with and representing entrepreneurs and businesses. Mr. Fried’s writings have been featured in various law reviews and other publications and he lectures extensively on legal and ethical issues facing attorneys and the public. In 2017, Mr. Fried founded OliverClarity Inc. and began developing OlyverApp, an online business management platform that helps entrepreneurs build compliant ventures and raise money. He is also a hockey player whose talents remain largely underappreciated.