Practical Advice: Basics of Accounting for Lawyers—Understanding Financial Statements and Financial Statement Analysis

MCLE Credits: 4.0
Ethics Credits Included: 0.0

Thursday, July 14, 9:00 a.m. - 1:30 p.m. ET
  • Webcast with Live Q&A
  • Telephone with Live Q&A
Learn more about Virginia CLE webcast format
Learn more about Virginia CLE telephone format
MCLE Credit: 4.0 (Ethics: 0.0)
Live-Interactive Credit: 4.0 (all dates, all formats) Live Interactive MCLE Credit Symbol
Registration Fees:

Webcast: $229
Telephone: $249


Why Attend?

  • Review the fundamentals of accounting for lawyers, from basic principles and common issues to a more thorough review of financial statement analysis

The first session of this course provides practitioners with an understanding of the four individual financial statements that are prepared for businesses—the balance sheet, income statement, statement of owners’ equity, and statement of cash flows—and the importance of the information conveyed in each of the financial statements. The practitioner will also gain an understanding of the basic principles of accrual accounting, the accounting process, and issues that arise in preparing the financial statements.

The second session builds on the first, exploring in depth each of the financial statements. This session provides analytical tools and techniques used to analyze financial statements, and how this analysis presents a picture of a company’s overall financial condition. This session also begins the discussion concerning how financial statements are manipulated through earnings management and revenue recognition.


Discounts available for Virginia CLE webcast-telephone-live seminars Follow link to learn about the Virginia CLE Online Bundle with savings up to 45% Follow link to learn about coupons for lawyers in First Year in Virginia practice Follow link to learn about discount for New Virginia Lawyers (first 3 years) Follow link to learn about Government Employee discount Follow link to learn about Legal Aid discount

Follow link to learn about coupons for lawyers in First Year in Virginia practice Follow link to learn about coupons for lawyers in First Year in Virginia practice Follow link to learn about Government Employee discount Follow link to learn about Legal Aid discount

Registration Deadlines:
Webcast: 10 minutes prior to seminar. If you register for a webcast the day of the seminar, your e-mail receipt will include a link to launch the seminar and download the materials.
Telephone: Online registration ends at 11:59 p.m. the day preceding the seminar
Call (800) 979-8253 to register up to one hour prior to the seminar

Cancellation Policy: Cancellation/transfer requests will be honored until 5:00 p.m. the day preceding the seminar. You will, however, be charged $60 if you cancel or transfer your registration to a different seminar after the link to the materials has been e-mailed by Virginia CLE.

Full refunds or transfers are available up to two days after a webcast in the unlikely event that you experience technical difficulties.

MCLE Credit Caveat: The MCLE Board measures credits by the time you spend in attendance. If you enter a seminar late or leave it early, or both, you must reflect those adjustments accurately in the credits you report on your credit reporting form. A code will be given at the end of the seminar, which must be written on your MCLE form.

Can't Attend?
E-mail to be notified when/if this program is made available as an online or USB seminar.
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COURSE SCHEDULE (July 14) (Eastern Time)

9:00 Accounting for Lawyers: Understanding Financial Statements
10:55 Live Q&A
11:10 Break
11:15 Accounting for Lawyers: Financial Statement Analysis
1:15 Live Q&A
1:30 Adjourn
  • Q&A will be handled via chat room for Webcast attendees.
  • Q&A will be handled via e-mail for telephone seminar attendees.



Gilbert L. Carey, JD, CPA, Wolcott Rivers Gates / Virginia Beach
Gilbert Carey is an attorney and certified public accountant who practices in the areas of Taxation, Business Law, and Estate Planning, solving business and legal challenges for privately held businesses and their owners.

Mr. Carey regularly advises clients on tax matters, including business, trust, estate, and personal income taxation; and represents clients in tax disputes with state and federal tax agencies and in the U.S. Tax Court. He also advises businesses on transactional matters and counsels business owners on the development of business succession strategies as part of a comprehensive estate and wealth preservation plan.

Before moving to Hampton Roads and joining Wolcott Rivers Gates, Mr. Carey was engaged in the practice of law with prominent law firms in New York and Atlanta, where he worked on tax, business, and estate planning matters. He served as general counsel to private manufacturing companies and was a tax consultant at PricewaterhouseCoopers in Boston, where he advised privately held companies on a wide array of tax matters.

Immediately following law school, Mr. Carey was a personal law clerk to Hon. Lawrence E. Kahn, U.S. District Judge for the Northern District of New York.

Mr. Carey teaches and lectures on accounting, business, and tax planning matters. He served as an Adjunct Professor of Law at Albany Law School in Albany, New York (2002–2017) and at the U.S. Army Judge Advocate General’s Legal Center and School in Charlottesville, Virginia (2014–2017).

Mr. Carey is an Officer in the U.S. Army Reserve, where he currently serves as a Rule of Law Team Chief for the 213th Legal Operations Detachment. The Rule of Law Team provides guidance and legal counsel to commanders on the international legal framework for rule of law across the full spectrum of military operations, both along and beyond the conflict spectrum.

Mr. Carey is a graduate of Northeastern University and Albany Law School. He is admitted to practice in Virginia, Georgia, Massachusetts, and New York and before the U.S. Tax Court.

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