Philadelphia partners Bill Connolly and Beth Diffley explored “I Was Told There Would Be No Math: Accounting Issues and In-house Counsel” at the Association of Corporate Counsel’s Business Skills Institute on October 5, 2015.
Panelists discussed several common intersections between accounting issues and the responsibilities of in-house counsel, including:
- Red flags to watch for when reading financial statements.
- Financial covenants and metrics.
- Privilege and auditor communications.
- Revenue recognition issues in commercial agreements.
- Effects of changes in lease accounting rules on common contractual terms.
The Business Skills Institute educates in-house counsel on fundamental business topics and practices, including critical issues and their potential impact on an organization.