This one-day course is aimed at fee earners with little or no prior background in finance and/or accounting who wish to develop their basic understanding of financial accounting, financial reporting and business valuation within a legal environment. The course encourages participants to develop their understanding of finance and financial metrics in order to gain more insights into the businesses of their clients and to discuss more confidently financial matters with both external clients and internal stakeholders.
This one-day course is suitable for both trainee solicitors wishing to understand and use basic financial information, newly qualified and qualified solicitors from 0-2 years PQE, who wish to develop their financial literacy in order to improve their internal and external profile.
- Improve your confidence in dealing with financial information in the context of legal practice
- Enhance your understanding of the “what”, “why” and “how” of finance
- Gain more insight into the businesses of your clients and deliver more commercially relevant and client-focused advice
- Increase your confidence in communicating with internal and external stakeholders in relation to financial matters.
Live Online – 3rd June 2024
The course is predominantly knowledge focused with the inclusion of discussions, small group and individual exercises. This style will help to embed the practical application of knowledge learnt ensuring that lawyers are able to confidently interpret their clients’ accounts in the workplace. Each delegate will receive course notes in a crib sheet format, together with a glossary of financial terms.
Please note that this is not a legal knowledge programme. It is financial and commercial knowledge and application.
- Discussion on the purpose of a Balance Sheet and identification of items typically found on it
- Discussion on the purpose of an Income and Cash-Flow Statement and the inter-relationship with the Balance Sheet
- Review and analysis of the financial statements of a well-known company
- Overview of the format of the internal management accounts, their uses and the inter-relationship with the published statutory accounts of a company
You will require a basic understanding of company accounts and accounting principles prior to attending the course.
Pre-Course Work Everyone attending this course must complete the distance learning in advance. The exercises will provide a refresher on basic accounting principles and also act as a self-assessment tool for participants to identify their pre-course financial knowledge and skills. The exercises will be used as reference and discussion points during the day, facilitating group discussions and enabling you to explore important concepts in greater detail.
At the end of the course participants will take away a short multiple choice based assessment that will test how far they have progressed their finance knowledge and skills through attending and completing the course.
A1 Act honestly and with integrity, in accordance with legal and regulatory requirements and the SRA Handbook and Code of Conduct
A5 Apply understanding, critical thinking and analysis to solve problems
B3 Develop and advise on relevant options; strategies and solutions
C2 Establish and maintain effective and professional relations with clients
D3 Apply good business practice.