Legal Accounting

This is an introductory financial accounting course that teaches the basic principles of financial law office accounting and incorporates the use of law office software to expose students to how time, billing and accounting is managed by business in the legal industry. Accounting topics include: working with debits and credits in double-entry accounting, and preparing and understanding financial statements. Law office software is used to apply the principles of accounting to complete the accounting cycle of several types of client matters in a legal practice. Particular emphasis is given to time entries, billing, disbursements, trust funds and matter management. This course also interprets the Law Society By-Laws and Rules of Professional Conduct as they apply to financial management of a law practice.