Introductory Accounting, Finance and Auditing for Lawyers

Author: Lawrence A. Cunningham

Publisher: West Academic


Category: Law

Page: 509

View: 608


Introductory Accounting, Finance and Auditing for Lawyers, Fourth Edition, continues to be packed with incisive substance on accounting and finance, and also emphasizes the role of auditing in the financial reporting process, an element given substantial new weight under the Sarbanes-Oxley Act. The Fourth Edition reflects the significant developments in the world of accounting, finance and auditing, including those generated by the major scandals such as Enron and the responses generated by Sarbanes-Oxley, from the Act itself, to the Public Company Accounting Oversight Board (PCAOB) to the SEC. The book retains the same basic architecture, narrative style, problems, and pitch to law students as in previous editions, and adds substantial new material. Additions include three entirely new Chapters, several new Sections added to existing Chapters, new Tables, and enhanced technical formatting. New Chapters include Audit Practice, an introduction to the key features of a financial audit including an Illustration and Problem concerning the leading statistical sampling techniques auditors apply in tests of internal control over financial reporting. Another new Chapter is Finance Theory, a rigorous but still introductory account of modern portfolio theory, CAPM and efficient market theory with critiques from behavioral finance inspired in part by the Enron-style accounting scandals. Previous users of the book will find all the familiar Illustrations and Problems, along with a solid dose of new materials geared toward the increasing reliance being placed on auditing, audit committees, and corporate governance in the era ushered in by Sarbanes-Oxley and PCAOB.

Introductory Accounting for Lawyers

Author: Lawrence Cunningham

Publisher: West Academic Publishing

ISBN: 9781634604116


Page: 238

View: 9220


This book is a spinoff of the author's Accounting, Finance and Auditing for Lawyers and focuses on elementary accounting for law professionals. It is intended for use in 1-credit classes or as a supplement. It includes all tables, formulas and problems included in the bigger book. While introductory books on this topic include mostly venerable material not prone to change, where relevant change has occurred, this new edition is on the cutting edge with it, including capturing such hot topics as new auditor disclosure on critical audit matters (CAMs) and going concern warnings; the new audit report and auditor tenure disclosure; revenue recognition and lease accounting standards; and audit data analytics.