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Accounting or Tax More Useful for Corporate/Transactional?

Posted: Fri Sep 05, 2014 5:24 pm
by Anonymous User
I'm a 3L with an NYC biglaw offer for corporate, but not assigned a particular sub-group for a while. I don't have an economics or finance background, and while I know a lot of learning is done on the job, I am trying to learn as much as I can through relevant law school courses to give me a good foundation for transactional practice. I think M&A is what I'd like to do, but I'm not certain.

Currently I am thinking about taking accounting (concerning financial statements), but I'm wondering if federal income tax would be more useful (the courses are offered at the same time). I don't believe I'll have an open enough schedule next semester to follow it up with corporate tax. Any suggestions on which course is better for preparing for corporate practice?

Thank you! (And apologies if this is in the wrong forum)

Re: Accounting or Tax More Useful for Corporate/Transactional?

Posted: Fri Sep 05, 2014 5:38 pm
by Anonymous User
can you take accounting at the b-school?

Re: Accounting or Tax More Useful for Corporate/Transactional?

Posted: Fri Sep 05, 2014 7:21 pm
by Anonymous User
Anonymous User wrote:can you take accounting at the b-school?
Unfortunately not. My circumstance boils down to a choice between these two. Any insight?

Re: Accounting or Tax More Useful for Corporate/Transactional?

Posted: Fri Sep 05, 2014 7:52 pm
by Anonymous User
Then accounting.

Re: Accounting or Tax More Useful for Corporate/Transactional?

Posted: Fri Sep 05, 2014 10:40 pm
by JusticeHarlan
Take accounting. The tax stuff that biglaw handles is done by dedicated tax folks, so unless that's gonna be you (which it doesn't sound like it), you won't need whatever you might learn in the basic tax class. Accounting isn't strictly necessary for corporate, but can be helpful in some instances, including M&A.

Re: Accounting or Tax More Useful for Corporate/Transactional?

Posted: Fri Sep 05, 2014 11:01 pm
by Anonymous User
Thanks for the input guys! Sticking with accounting.