Professional Accounting Blog

    Accounting For Your Prosperity

    Critical Time Element Impacts on Both Coronavirus Claims and Non-Virus Claims

    Posted by Patrick Kelleher, CPA, CFF on Mar 4, 2020 4:59:24 PM

    Topics: Investigative and Forensic Accounting, COVID-19

    As the world enters its third full month of dealing with the latest coronavirus, markets contemplate the financial impact, as well as other implications.  The interdependency of the world economy has created a uniquely wide and deep potential impact related to the virus as CEO’s contemplate the employee, supply chain and customer consequences.  The depth of the effect of the virus began in the US as a potential disruption to the supply chain, but it is now threatening both supply and demand as it spreads across the world. 

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    4 Signs of Accounts Receivable Fraud

    Posted by Meaden & Moore on Jan 28, 2020 8:00:00 AM

    Topics: Investigative and Forensic Accounting

    Accounts receivable (A/R) are often a popular fraud target because of the high volume of transactions that go through the A/R account. These types of fraud can be costly, but early detection can help minimize losses. This article identifies four signs that something is amiss with receivables: slow turnover, missing controls over financial reporting, excessive write-offs and errors, and customer complaints.

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    The Cost of Capital Counts

    Posted by Meaden & Moore on Jan 27, 2020 10:50:31 AM

    Topics: Investigative and Forensic Accounting

    The cost of capital is an important consideration when valuing a business under the income approach. This article explains how business valuation experts determine the “optimal” capital structure for a business and why it matters.

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    Look Beyond Deal Price in Statutory Appraisals

    Posted by Meaden & Moore on Jan 24, 2020 8:30:00 AM

    Topics: Investigative and Forensic Accounting

    Statutory appraisals in dissenters’ actions are typically based on either the deal price or the company’s unaffected market value as a going concern. This article summarizes a recent Colorado Court of Appeals case that affirmed a decision to consider more than just deal price when determining the fair value of a minority shareholder’s interest. 

    Crocker v. Greater Colorado Anesthesia, P.C., 2018 Colo. App. 33, 2018 WL 1247618, Mar. 8, 2018

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    Consumer Debt Portfolios Allegedly Used in Recent Ponzi Scheme

    Posted by Meaden & Moore on Jan 23, 2020 8:15:00 AM

    Topics: Investigative and Forensic Accounting

    It’s been more than a decade since Bernie Madoff made headlines for his massive Ponzi scheme. That case taught a valuable lesson: If an investment seems too good to be true, it probably is. Unfortunately, some investors are still being duped by slick con artists who promise quick and easy returns. This article highlights another recent securities fraud indictment last fall and explains how these frauds work. A sidebar discusses ways a forensic accounting expert can help identify the signs of securities fraud scams.

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    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.

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    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.

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    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.

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    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.

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    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. 

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