Duration
30h Th, 6h Pr
Number of credits
Lecturer
Coordinator
Language(s) of instruction
French language
Organisation and examination
Teaching in the first semester, review in January
Schedule
Units courses prerequisite and corequisite
Prerequisite or corequisite units are presented within each program
Learning unit contents
Accounting, which gives concrete expression to the rules of accounting law, is of almost daily use to a lawyer. Practitioners, lawyers, consultants and self-employed professionals (terms used in a neutral sense throughout this document) are subject to accounting obligations. It is therefore important for them to understand their accountants, to ensure optimal management of their business activity.
In their professional life, lawyers are regularly confronted with questions relating to accounting and accounting law. In the context of a divorce, for example, or an inheritance, a company will need to be valued.
Accounting also plays an important role in their personal life. For example when it comes to valuing a company that you want to buy or sell, or during restructuring (mergers/divestments, etc.).
The aim of the course is therefore to familiarize students with accounting techniques and accounting law, providing them with the tools they need to carry out their professional and private activities.
COURSE CONTENTS
- Introduction: background and legal sources
- What is the purpose of accounting?
- Keeping accounts: who should keep accounts? What form of accounting is required? What are the rules for keeping accounts? What are the accounting obligations at different points in a company's life? What are the responsibilities of the various parties involved (directors, shareholders, accountant)? What are the penalties for non-compliance with accounting obligations? Definition and types of accounting
- How accounting works: (i) recording transactions and (ii) structuring annual financial statements
- Using accounting for valuation purposes: (i) financial analysis and (ii) cash flow statements
Learning outcomes of the learning unit
Objectives:
- discover the fundamenal principles of accounting: the legal angle AND financial and economic approaches
- gain an insight into the usefulness of accounting for the company and its various partners; accounting is a real working tool, useful in many everyday and business situations
- training in accounting reasoning, so as to make the best possible use of accounting in its various applications
- basic accounting concepts
- train lawyers in the principles of accounting, so that they can approach accounting law as such
- provide lawyers with the technical and legal foundations they need (accounting reasoning)
- gain an overview of a company's financial situation
- discover financial analysis techniques
Accounting and accounting law are useful for entrepreneurs, company managers, corporate lawyers, consultants and attorneys, notaries,.... and all those who work in or for companies, as well as those interested in property law (asset structuring and management, matrimonial property regimes, divorce), tax law (corporate tax), etc.
The "Comptabilité et droit" course should be considered in conjunction with courses on company law, economic law, tax law, etc.
Prerequisite knowledge and skills
Planned learning activities and teaching methods
Theory explained and illustrated by the teachers, together with exercises solved during lessons and exercice sessions, form the core of the course.
Teaching methods and resources:
1. collaboration between a lawyer and a financial expert
2. course divided into modules: illustrated theoretical presentations AND exercises and case analyses.
Students are advised to work on the material regularly.
Mode of delivery (face to face, distance learning, hybrid learning)
The course is given in classroom. During the case analyses, a reading and preparation at home is required.
Course materials and recommended or required readings
Platform(s) used for course materials:
- eCampus
Further information:
The course materials consist of slides, case analyses and a documentation file.
Code de droit économique
Code des société et des associations
Other non-obligatory reading material:
NIESSEN W. et CAPODICI G., « Comprenez votre comptable », Edipro - 2019 - 2eme édition
LECOMTE D., "Comptabilité, fiscalité et analyse financière", Larcier - 2022 - 1er édition
VINCKE J.P., "Comptabilité des entreprises", Larcier - 2021 - 1er édition
Exam(s) in session
Any session
- In-person
written exam ( multiple-choice questionnaire, open-ended questions )
Continuous assessment
Further information:
Exam
Written exam composed of MCQ; R/F; open questions; case analysis.
Students can dispose of the Economic Law Code (This can be highlighted, sublined, numerically referenced from articles to articles. Bookmarks can only include the name of a chapter/section/...).
A list with formulas for the financial analysis part will also be provided during the exam.
Continuous assessment
The specifics will be communicated during the first class and in the introduction slides.
Work placement(s)
Organisational remarks and main changes to the course
Contacts
Professor Vincent Compagnie: vcompagnie@uliege.be
Professor Isabelle Richelle: isabelle.richelle@uliege.be
Assistant (Accounting Partim) : Magali Herman: magali.herman@uliege.be