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Paralegals Guide to Reading and Processing Financial Documents

Understand why transactions are entered the way they are and the important reports the partners of the firm need to run a profitable law firm.

Many paralegals are handed the job of bookkeeper by default or out of need. Since this is not their area of expertise, they may be told or shown how to make the entries, but they are never shown why or helped to understand the big picture when it comes to the accounting. This course will help the paralegals responsible for handling the bookkeeping for the law firm understand why transactions are entered the way they are and learn some accounting terminology. They will also learn the four most important reports the partners of the firm need to run a profitable law firm.

66 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Accounting Terminology

  • Accounts Receivable
  • Accounts Payable
  • Assets
  • Liabilities
  • Cash Flow
  • Income
  • Expenses and More

Balance Sheet

  • Assets
  • Liabilities
  • Equity

Profit and Loss

  • Income
  • Expenses

Cash Flow Report

  • What Is a Cash Flow Report?
  • What Is Included Line by Line

Statement of Retained Earnings

  • What Is the Statement of Retained Earnings?
  • How Does This Vary by Entity Type?

Other Financial Reports for Law Firms

  • Light Discussion on Other Reports
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More Program Information

Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on February 24, 2022.

Call 1-866-352-9540 for further credit information.

  • NALA 1.08
     
  • This program is applicable for continuing legal assistant education credit. Please check with your accrediting board to see if this course will qualify towards your recertification requirements. Program Length: 1.08 hour(s).
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Lynda Artesani

Lynda Artesani

Artesani Accounting

  • Founder of Artesani Accounting and co-founder of The Proper Trust and The Accountant’s Law Lab
  • Our firm is an accounting firm that specializes in working exclusively with attorneys and law firms
  • Speaker at QuickBooks Connect 2018, 2019, 2020, and 2021, and Scaling New Heights (accounting conference) 2020 and 2021
  • QuickBooks Online ProAdvisor of the Year 2021
  • Firm of the Future Author; Legal Technology Today, LeanLaw blog
  • Accountant’s Law Lab co-founder
  • Advanced Certified QuickBooks ProAdvisor, Accountant
  • Can be contacted at 239-349-2004 or [email protected]
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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  • State Specific Credit Tracker
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Product ID: 407170
Published 2022
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