Professional Accounting Blog

    Accounting For Your Prosperity

    Meaden & Moore

    Recent Posts

    Warning: Expert Admissibility Standards May Vary

    Posted by Meaden & Moore on Nov 4, 2019 9:00:00 AM

    Topics: Investigative and Forensic Accounting

    In federal court, the admissibility of expert testimony is governed by the strict Daubert standard. The U.S. Supreme Court decided this landmark case in 1993.

    Read More

    Data Analytics Roundup

    Posted by Meaden & Moore on Oct 30, 2019 9:00:00 AM

    Topics: Investigative and Forensic Accounting

    When it comes to fraud detection, the amount of available data in the company’s paper and electronic records can seem staggering. Fortunately, the field of data analytics continues to advance, arming qualified financial experts with the tools to mine massive mounds of data effectively and efficiently. Association analysis, outlier analysis, and cluster analysis are among the detection techniques that have rapidly gained footholds in today’s data-driven world.

    Read More

    Recognize the Typical Schemes of Subcontractor Fraud

    Posted by Meaden & Moore on Oct 29, 2019 9:00:00 AM

    Topics: Investigative and Forensic Accounting

    General contractors usually have good relationships with their subcontractors. But fraud happens in every industry. As a risk management measure, it’s important to recognize typical subcontractor fraud schemes so you can protect your construction company both financially and legally.

    Read More

    How Market Data Can Be Used to Calculate Reasonable Royalty Images

    Posted by Meaden & Moore on Oct 28, 2019 8:00:00 AM

    Topics: Investigative and Forensic Accounting

    In intellectual property infringement cases, business valuation experts often use the Georgia-Pacific model to determine reasonable royalty rates. This article lists the 15 factors that are considered under this model and describes a market-based alternative that’s gaining momentum.

    Read More

    IRS Gives Additional Guidance on Bonus Depreciation Under the TCJA

    Posted by Meaden & Moore on Oct 4, 2019 11:17:18 AM

    Topics: Tax Planning & Strategies

    The IRS has released final regulations and another round of proposed regs for the first-year 100% bonus depreciation deduction. The Tax Cuts and Jobs Act (TCJA) expanded the deduction to 100% if the qualified property is placed in service through 2022, with the amount dropping each subsequent year by 20%, until it sunsets in 2027. (The phaseout reductions are delayed a year for certain property with longer production periods.) Of course, Congress could act before that to extend or revise the deduction. 

    Read More

    Dissenting Shareholders: What’s the Fair Value of the Interest?

    Posted by Meaden & Moore on Jul 29, 2019 8:18:00 AM

    Topics: Investigative and Forensic Accounting

    In Athlon Sports Communications v. Duggan, the Tennessee Supreme Court addressed whether the Delaware Block method was mandated when valuing shares in appraisal rights actions. To determine the appropriate method for determining “fair value,” the state court looked outside of its jurisdiction to Weinberger v. UOP, Inc. 

    Read More

    Beneish Model Helps Detect Earnings Manipulation

    Posted by Meaden & Moore on Jul 24, 2019 8:34:00 AM

    Topics: Investigative and Forensic Accounting

    Financial statement manipulation is the costliest type of occupational fraud. The 2018 Report to the Nations published by the Association of Certified Fraud Examiners found that the median loss from financial statement fraud was $800,000, compared to median losses of $114,000 for asset misappropriation and $250,000 for corruption. 

    With any type of fraud, the sooner it’s detected, the more likely losses can be mitigated. Here’s a tool to help clients quickly assess the likelihood of earnings manipulation.

    Read More

    Ohio will keep the Business Income deduction (BID) at $250,000 and maintain the 3% flat rate cap in Budget bill

    Posted by Meaden & Moore on Jul 23, 2019 10:12:35 AM

    Topics: Tax Planning & Strategies

    On July 16, the Ohio House and Senate conference committee on Am. Sub. HB 166 voted to keep the Business Income Deduction (BID) at $250,000 and to maintain the 3% flat rate cap on income above it. Legislators were convinced to avoid tying the BID exclusions to the federal 199A law regarding the Qualified Business Income Deduction.

    The provision was previously mentioned as an option that would have impacted a broad array of specified service trades and businesses (SSTB). The House, Senate and DeWine Administration in reaching a compromise eliminated the BID for lawyers and lobbyists – two professions which became the focal point of BID concerns by some legislators. Read More

    How Journal Entries May Signal Fraud

    Posted by Meaden & Moore on Jul 22, 2019 9:51:00 AM

    With a median loss of $800,000, financial statement frauds are the costliest type of white-collar crime, according to the 2018 Report to the Nations by the Association of Certified Fraud Examiners (ACFE). Fortunately, auditors and forensic accountants may be able to detect financial misstatement by testing journal entries for errors and irregularities. Here’s what they look for and how these tests work.

    Read More

    Applying the Daubert Standard in Federal Cases

    Posted by Meaden & Moore on Jul 19, 2019 9:25:17 AM

    Topics: Investigative and Forensic Accounting

    Under Rule 702 of the Federal Rules of Evidence, an expert witness may testify if scientific, technical, or other specialized knowledge will help a judge or jury make sense of evidence or understand facts. A 1993 U.S. Supreme Court case – Daubert v. Merrell Dow Pharmaceuticals Inc. – put this rule to the test, affirming judges’ roles to act as gatekeepers against “junk science.”

    Read More

    Subscribe to Email Updates

    New Call-to-action
    New Call-to-action
    New Call-to-action
    New Call-to-action