Business succession planning requires careful considerations by business owners as leadership changes effect the entire business including employee retention, customer relationships, and products or services offered by the company. Avoiding the following common succession planning errors will help business owners achieve a successful leadership transition: [Read more…]
What Does Fraud Mean To You? (video)
11/26/2018 Posted By
You may not think about it every day, but fraud affects your life more than you may realize. Learn how to protect yourself in the latest video from the ACFE. [Read more…]
Business Practices to Prevent Fraud in Small to Medium Legal Practices
11/19/2018 Posted By
The best defense against business fraud is for the attorney or attorneys to be involved in the business aspects of their legal practice. The goal here is to implement strong internal controls to accurately record income and expenses and to to safeguard business assets. [Read more…]
Commercial Damages and Unjust Enrichment
08/09/2018 Posted By
Financial experts in commercial damages normally calculate damage remedies that focus on a plaintiff’s loss that is calculated either as lost profits or loss business value. While unjust enrichment is a damage remedy that focuses on the defendant’s benefit or gain. [Read more…]
The Benefit of Using a Forensic Accountant in Divorce Cases
08/02/2018 Posted By
One of the primary objectives in a divorce is the division of marital property , which includes all
assets and liabilities accumulated during a marriage. An experienced divorce attorney can help with property division however, when it comes to complicated financial assets a forensic accountant can be invaluable in assisting an attorney with a complex financial situation. [Read more…]
Misconceptions about Fraud in the Family Business
07/19/2018 Posted By
A family owned business likes to think that it is immune from fraud and that their trusted employees including family members would never steal from the business. Sadly, family businesses are not exempt from fraud and to think that your company is safe from this type of activity can put your business at significant risk for embezzlement and other acts of asset theft. The most common misconceptions related to family business fraud are: [Read more…]
Business Valuation Seminar Fraud
07/05/2018 Posted By
Business owners and their attorneys need to beware of companies that offer business valuation and consulting services seminars. These seminars are usually a closed invite only event that will snare a few business owners who are anxious to sell their business. The key is to convince a business owner that his or her business is worth much more than it is and in the process to charge a large fee for a written report to support this fictitious number. [Read more…]
Key Factors That Affect Business Value
06/19/2018 Posted By
Most business owners never think about the value of their business until they are ready to sell and retire. At this stage it is often too late to enhance the value of the company . The following key factors affect the sale value of most businesses. [Read more…]
Tennessee Supreme Court Adopts Modern Valuation Methods For Dissenting Shareholder Disputes
06/15/2018 Posted By
In a case involving dissenting shareholders forced out of a closely held corporation in Nashville, the Tennessee Supreme Court has overruled its prior case law and adopted a standard that will allow trial courts to use modern methods such as discounted cash flow to determine ” fair value” of dissenting shareholders stock. [Read more…]
Exit Strategy : Employee Stock Ownership Plan
05/28/2018 Posted By
One way for business owners to transition their ownership to employees and to receive liquidity for their stock shares is through the establishment of an employee stock ownership plan(ESOP). [Read more…]