This nutshell provides a well-rounded summary of the relevant accounting areas from basic financial statements to complex earnings-per-share ratios and corporate finance and valuation. Learn how to recognize revenue, expenses, assets, and liabilities. Reviews accounting principles for many different areas, including investments, long-term debt, leases, stocks, and partnerships. This edition discusses recent developments such as expanded use of fair values in financial statements and guidance on how to determine fair value, accounting for service agreements in securitizations, and revised rules on accounting for acquisitions.
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Most Helpful Customer Reviews
11 of 11 people found the following review helpful:
5.0 out of 5 stars
Does its job: Teaches you accounting,
By RPP (Dallas, Texas) - See all my reviews
This review is from: Accounting and Finance for Lawyers in a Nutshell (2nd Edition) (Nutshell Series) (Paperback)
After fruitlessly attempting to learn accounting from the truly awful casebook we were using in an "Accounting for Lawyers" class, I bought this book off of Amazon after hearing it made the subject approachable. I've generally been impressed by the quality of West's Nutshell series, and this one is no different. The subjects are arranged in a rational order, the book is edited well, and I understood the material after one read-through. This is a typical nutshell book- no superfluous examples or problem sets that no professor actually assigns, just straightforward doctrine. If you're taking an Accounting for Lawyers class or are a solo practicioner looking to delve into some financial statements without hiring an accountant, this should get you by just fine.
4 of 4 people found the following review helpful:
5.0 out of 5 stars
Essential Reading for New Commercial Lawyers,
Amazon Verified Purchase(What's this?)
This review is from: Accounting and Finance for Lawyers in a Nutshell, 4th Edition (West Nutshell Series) (Paperback)
Law schools purport to teach you to "think like a lawyer." While this is important for navigating the world of courts and contracts, it can be a huge obstacle to communicating with non-lawyers (especially non-lawyer professionals). As a lawyer who works frequently with statisticians, chemists, and accountants, it has been my my experience that the communication divide between attorneys and accountants is the most difficult. Accountants use flexible, conventional terms and processes to reach precise quantitative results. Lawyers use precise, qualitative language to control fuzzy indeterminate results. Worst of all, we share many jargon words (liability, equity, asset) but use them differently.
This book is written for a lawyer who "thinks like a lawyer" and wants a book to just "lay it out." It assumes no prior knowledge and all the jargon terms are defined at the outset. Areas of ambiguity or subjectivity are clearly flagged. The author then walks us through accountancy, step by meticulous step, without any advanced math. Like all good legal writing, it is dense with information, but perfectly clear and as brief as possible. This book will teach you the language of the accountant and how to read financial statements. If you are looking to learn to DO accounting, you need a different book. But if you want to work effectively with accountants, to see relevance in financial statements, and to prepare expert witnesses, this book is peerless. If only there were a similar book for accountants, so they could understand me! This is going on my list for pre-law reading.
0 of 2 people found the following review helpful:
4.0 out of 5 stars
Pretty Good,
By SECPerks (Nashville, TN) - See all my reviews
Amazon Verified Purchase(What's this?)
This review is from: Accounting and Finance for Lawyers in a Nutshell (In a Nutshell (West Publishing)) (Paperback)
I don't think the Nutshells are as helpful as the E&Es. (I usually only purchase the Nutshell when there isn't an E&E available.) But the summaries were easy to understand and the coverage was comprehensive. I still found it useful.
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