De-mystifying & Understanding Accounts - A Guide for Lawyers

Introduction

Being able to find your way around a financial report with confidence and understanding is an important, if not vital, professional skill. This webinar is designed to help all lawyers, regardless of the area of law within which they work, to better understand and be able to relate to and use accounts and other financial statements in their work. It will also help them work better with accountants and will aim to simplify a lot of the terms used and accounting concepts that have to be applied.

Financial reporting is constantly evolving and changing, most recently to address issues such as leasing, reporting revenue and sustainability. Remembering the basic principles and concepts and being up to speed with the recent changes means you can better engage with the information and fully understand the issues raised.

The session will be useful for those working throughout the United Kingdom and Ireland.

What You Will Learn

This webinar will cover the following:

• Reporting profit and loss and the key measures of profit such as ‘operating profit’ and EBITDA
• Understanding which financial period income and expenses relate to, recent issues around cost and revenue recognition (also known as cut-off)
• Understanding the balance sheet, the key target audience and the limitations
• Treatment of tangible and intangible assets and why the balance sheet reported value will not be the same as the market fair value
• The difference between liabilities, debt and equity and how liquidity is measured
• Summary of other key performance indicators (such as free cash flow) and recent regulatory changes - the issue of new UK Financial Reporting Standards (FRS)

This pre-recorded webinar will be available to view from Monday 13th July 2026

Alternatively, you can gain access to this webinar and 2,400+ others via the MBL Webinar Subscription. Please email webinarsubscription@mblseminars.com for more details.