Lawyers and Directors will not usually prepare their company's financial statement, but they do need to understand them. Financial Literacy for Lawyers and Directors will give them this knowledge. 1. Lawyers are very frequently involved in complex corporate matters where an appreciation of what a set of financial statements really discloses (and does not disclose) is essential. 2. Lawyers very frequently draft financial covenants. If they fail to understand precisely the meaning of the terms they include in those covenants, borrowers can and regularly do find imaginative ways to circumvent the covenants. 3. Lawyers advise company directors, and lawyers themselves often serve on boards. 4. Directors need to understand the exact financial position of their companies, 5. Lawyers and Directors need to have knowledge on matters such as solvency, liquidity and sustainable profitability. 6. Lawyers are responsible for selecting, recruiting and briefing the specialist accountant who will act as an expert witness in a disputed matter which goes before a court, a tribunal or a similar forum. The lawyers must have a clear and accurate understanding of the financial issues involved. Financial Literacy for Lawyers and Directors will address: The three key financial statements: their interdependence, what they reveal and what they cannot reveal. Historic financial statements, and their reliability as estimates of a company's future performance and position. The key accounting concepts, which are the bedrock of financial statements, explained in accessible terms and their relevance made clear to lawyers. Creating reality from the bedrock statement: a. the role of accounting policies; b. how and why they vary; c. how directors and lawyers need to understand the reasoning behind specific accounting policies; d. how alternative policies can present a completely different picture of a company's financial position and performance. Notes to the accounts: why they are equally crucial in the presentation of a complete picture of a company's health and prospects. Cash flow analysis: why is it so much more important than profit-and-loss analysis in understanding a company's true financial performance and position. Cosmetic accounting: how to detect deliberate attempts to mislead, and how to combat deceptive and misleading accounting.