Basic Accounting and Financial Reporting for In-House Attorneys (Part Four): Goodwill, Revenue Recognition, and Other Technical Areas 2025

Using financial information is a key skill for in-house counsel. Using the tools discussed in our first three Basic Accounting and Financial Reporting for In-House Attorneys Briefings, discussion will use real-life examples to explore more complex concepts encountered in financial reporting. Goodwill and post-acquisition goodwill accounting, the use of non-GAAP measures, revenue recognition, and accounting for contingencies such as pending litigation will be discussed. Please join Cheryl L. Linthicum and George M. Wilson of PLI’s SEC Institute as they explore these and other financial reporting challenges. 

In this Briefing faculty will:

• Briefly review the kinds of information that financial statements communicate - 5 minutes
  • Discuss the concepts of financial stability
    • Liquidity – Does a company have enough cash and liquid assets to pay its bills?
    • Leverage risk – Does a company have too much borrowed money and related interest expense?
  • Review the concepts of financial performance – Are we earning a profit or losing money?
    • Increasing or losing resources
• Review how goodwill is recognized when a company makes an acquisition – 5 minutes
• Describe post-acquisition accounting for goodwill and the related impairment review and commonly encountered problems – 5 minutes
• Discuss non-GAAP measures and when they can communicate information beyond the financial statements – 10 minutes
• Discuss accounting for revenue recognition and frequently encountered problems – 10 minutes
• Discuss accounting for contingencies and related financial statement disclosures – 10 minutes
• Using the footnotes to the financial statements to understand complex and technical issues – 10 minutes
• Suggested next steps to continue building financial literacy – 5 minutes

Before listening to this Briefing you will want to listen to:

Basic Accounting and Financial Reporting for In-House Attorneys (Part One): Foundations and the Balance Sheet 2025

Basic Accounting and Financial Reporting for In-House Attorneys (Part Two): The Income Statement and Statement of Cash Flows 2025

Basic Accounting and Financial Reporting for In-House Attorneys (Part Three): Interpretation, Ratio Analysis, and Selected Technical Areas 2025

Who Should Attend: Attorneys who need a basic understanding of accounting and financial reporting in their practice

Program Level: Update 

Prerequisites: None 

Advanced Preparation: None