By Lorène Becker June 15, 2020 As businesses grow and get more complex, so does the size of their data. Businesses often maintain their data on systems such as SAP, Oracle or their own proprietary software. This data is important in the discovery process but it is becoming more common for parties in litigation to […]
By Virginia Christie June 4, 2020 Our perceptions of reality have been literally and figuratively altered in the digital age. Increasingly, software becomes available to manipulate images. Now, software exists from multiple vendors to alter bank statements with startling facsimile to the original statements. This regrettably encourages wrongdoers and frustrates detection of fraudulent transactions. If […]
By Rob Sanders June 3, 2020 We often receive questions about how to categorize a financial item. For example, is that royalty fee to a licensor considered revenue? Is that related obligation of the licensee to pay royalty actually a liability? Using the correct definitions for accounting terms provides the answers. The Financial Accounting Standards […]
The North Dakota Industrial Commission has ruled the actual cost for operator-owned saltwater disposal wells includes the prime lending rate plus a multiplier as our firm had recommended in its testimony to the Commission. The operator provided testimony the actual cost should include an expected equity return. We appreciate the support of Mach Energy, M3 […]
By Jeff Compton and Allen Wendler December 6, 2018 Not every party from which financial discovery is sought will have financial statements, but almost all will have a federal income tax return. Here, we address how to use tax returns for financial discovery. Remember, individual return forms and their instructions can be found at irs.gov. […]
By Jeff Compton and Michael Shapiro June 29, 2018 For professional practices and owner managed firms, an understanding of personal goodwill is vital to understanding the fair market value of the business. Specifically, with multiple owners, the existence of personal goodwill can cause the fair market value allocable to a given owner to be materially […]
By Jeff Compton April 12, 2018 Do some digging, and you’ll find there isn’t much accounting guidance for the presentation of intercompany accounts. To help remedy this, we performed our own survey of public company reporting. Intercompany transactions between related parties are fairly common in the normal course of business. Examples of these include i) services […]
When an intangible asset, usually a business ownership interest such as stock, is valued, the report will necessarily reflect the professional judgment of the appraiser. Evaluating the report will be facilitated by the application of rules or principles that are supplied by relevant professional standards.