2024 Essential Business Law for Accountants

£75.00 (Exc. VAT)

Presented by Paul Harris CPD Points/Hours: 2.5

Course Description: Essential business law knowledge is vital for accountants for a variety of reasons. First and foremost, familiarity with basic business law principles gives accountants a better understanding of their client's businesses and the legal environment in which they operate. This, in turn, makes accountants better identify potential risks and opportunities for their clients. Additionally, understanding business law can help accountants provide more practical advice to their clients on various issues, from contracts and taxation to compliance with regulations. Finally, many accountants find that having at least some knowledge of business law enhances their practice development. This will include understanding the elements of law affecting commercial services, understanding company law and understanding insolvency law.

Topics covered:

1. Understanding the elements of law affecting commercial practice

a. Contract law

• Elements of a valid contact

• How contracts may be terminated

• Remedies for breach of contract

b. Law of agency

• Principles of agency

• Rights and duties of agents (including partnerships)

• Implications of the agency relationship

c. Law of tort

• What constitutes liability for negligence

• Negligent misstatement

• Vicarious liability

• Remedies for claims of negligence

2.  Understanding company law

a. Financing and administration of companies

•Veil of incorporation and when it can be lifted

•Procedures for the issue of shares including shares issued at a premium and pre-emption rights

• Capital maintenance including reduction of capital

b. Directors, officers, and shareholders

• Appointment and removal of directors

• The roles and responsibilities of directors

• Consequences of breach of duty

3. Understanding insolvency law

• Implications of fixed and floating charges over assets

• Company voluntary arrangements

• Administration orders

• Compulsory and voluntary liquidation

• Priorities for distribution on liquidation

• Rights of employees

• Bankruptcy and personal insolvency.

About the Presenter: Paul Harris is a Solicitor, specialising in corporate and commercial law for over 30 years. During that period, he has advised on general corporate and commercial matters, restructuring – which is his real passion and insolvency. Many of his assignments have been particularly interesting including a number of professional football clubs from 1992 to the present day, the rescue of numerous manufacturing companies, professional service entities and Lloyds names. Paul has experience in defending directors for misfeasance and in disqualification proceedings and has advised extensively on corporate governance protocols, as well as acting for a government agency. He lectures on corporate law generally, and corporate and personal restructuring and insolvency issues, where he is known for his practical approach to restructuring, insolvency and directors’ duties and responsibilities.