How to Read and Understand a Financial Statement and Tax Return

Originally Friday, November 2, 2018 | 9:00 a.m. – 12:00 p.m.



Program Co-Instructors:

Steven J. Eller

Steven J. Eller
Tax Partner
Gettry Marcus CPA, P.C.

Howard H. Fine

Howard H. Fine
Partner-in-Charge of the Accounting & Auditing Group
Gettry Marcus CPA, P.C.

  • A greater understanding of the client’s financial matters allows the attorney to better service the client and to possibly generate additional services for the client and billings for the law firm.

    This program is a comprehensive seminar, designed to familiarize the attorney with the structure and contents of the client’s financial statements and tax returns.

    Items to be covered in this program include:

    • Overview and Purposes of Financial Statements
    • Types of Financial Statements
    • Levels of Accountant’s Report
    • Contents of Financial Statements
    • Overview of Tax Returns of Various Business Entities
    • Common Differences Between Financial Statement and Tax Return Reporting

    $179 for Members | $279 for Nonmembers

    Members who are Recent Law Graduates, Newly Admitted Lawyers (earliest admission 2016-2018 in any state or country), In-House/Corporate Counsel, Judges (and their staff), or attorneys that practice within the Government, Academic or Not-for-Profit sectors attend this program for free.

  • 9:00 am – 9:15 am Overview and Purposes of Financial Statements

    • Users of Financial Statements
    • Historical v. Forecasts and Projections
    9:15 am – 9:30 am Levels of Accountant’s Report

    • Audit
    • Review
    • Compilation
    • “Prepared”
    9:30 am – 10:20 am Contents of Financial Statements

    • Basis of Accounting (Accrual v. Cash)
    • Balance Sheet
    • Statement of Operations
    • Statement of Cash Flow
    • Statement of Shareholders’ Equity
    • Notes to the Financial Statements
    • Supplementary Information
    10:20 am – 10:30 am Break
    10:30 am – 10:50 am Fraud Issues on Financial Statements

    • Fraudulent Financial Statements v. Asset Misappropriation
    • Common Areas of Fraudulent Financial Statements
    10:50 am – 11:00 am Question & Answer
    11:00 am – 11:30 am Introduction to Understanding a Tax Return

    • Overview of Entity Tax Returns
      • C Corporations
      • S Corporations
      • Partnerships
    11:30 am – 11:50 am Schedule M-3 (Common Book – Tax Differences)
    11:50 am – 12:00 pm Question & Answer

  • CLE Credit
     3.0 Skills
     3.4 general
    2.5 general
     2.5 general

    Please Note: Newly admitted NY attorneys cannot fulfill ethics or skills credits through our on-demand programs under OCA rules. For more information on this, please see

  • Sponsorship Opportunities are Available! Please Contact:
    Angie Avila, Membership Outreach and Sponsorships Manager | (212) 382-6608 |