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The Practitioner’s Corner – An Accountant’s Guide for Attorneys: Accountants are Guided by Standards and Principles

Standards and principles in accounting are the foundation of financial reporting. This guide equips attorneys with the insights to navigate key concepts like GAAP and GAAS, empowering them to address accounting-related matters with clarity and confidence.

Inside This Issue

Welcome to the second in a series of articles which explore basic accounting concepts. This will include terminology, principles, methods, reports, and statements. The goal is to increase financial acumen, correct common misconceptions, and alert attorneys to the items that matter most to them and their legal practices. 

By deepening the understanding and providing clarity on these standards and principals, this guide aims to equip attorneys with knowledge to help them navigate accounting-related issues more effectively in their practice of law.

Meet the Authors

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Anthony Bracco

Partner & Leader of Anchin’s Litigation, Forensic and Valuation Services Group

 

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David Beckman

Partner in Anchin's Litigation, Forensic and Valuation Services Group

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Margaret Kolb

Director in Anchin's Litigation, Forensic and Valuation Services Group

Key Accounting Methods & Concepts for Attorneys

Learn the key differences between GAAP and GAAS, and how these principles and standards apply to financial and accounting practices.

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