Legal Accounting
/ˈliːɡəl əˈkaʊntɪŋ/
Definitions
- (n.) The process of recording, analyzing, and reporting financial transactions specifically for legal purposes, including compliance, litigation support, and trust accounting.
The law firm employs legal accounting to ensure client trust funds are managed in compliance with regulations.
Forms
- legal accounting
Related terms
See also
Commentary
Legal accounting often overlaps with trust accounting and forensic accounting but specifically focuses on financial practices within legal contexts, such as client trust funds and regulatory compliance.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.