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.