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Posts Tagged: Philadelphia forensic accountant

Three More Common Mistakes Made When Valuing a Business – Part Two of Two

Our study of the most significant mistakes made while setting a business valuation concludes as a well-respected Philadelphia forensic accountant and Certified Valuation Analyst takes a closer look at three additional issues that often are encountered in this process. Relying on outdated business transactions and industry growth rates: According to David Anderson, principal of David… Read more »

Five Frequently Made Mistakes in Valuing a Business – Part One of Two

While most business valuations properly follow applicable professional standards, some have fallen short when the financial professional makes one or more significant mistakes.  Here, from a noted Philadelphia forensic accountant and Certified Valuation Analyst, are two of the five most frequently made business valuations miscues. The three other top mistakes will be detailed in our… Read more »

Fighting Vendor Billing Fraud

Businesses and other organizations can fall victim to vendor billing fraud perpetrated by outside parties just as easily as they can be by unscrupulous employees or managers, explains a noted Philadelphia forensic accountant and Certified Fraud Examiner. An example of this, according to David Anderson, principal of David Anderson & Associates, a Philadelphia forensic accounting… Read more »

What is a Song Worth?

When valuing a business – or part of a business, a financial professional must take into account such intangible assets as patents, trademarks, trade names, goodwill, literary works, and even songs, according to a leading Philadelphia forensic accountant and Certified Valuation Analyst. “Although the phrase ‘I got it for a song,’ meaning for practically no… Read more »

Why Bank Reconciliations Are Critical in Protecting Against Fraud

It is important for a business to closely monitor and control its bank reconciliations and other account-related activities to help prevent fraud, according to a noted Philadelphia forensic accountant and Certified Fraud Examiner. David Anderson, principal of David Anderson & Associates, a Philadelphia forensic accounting firm that provides a full range of fraud investigation and… Read more »

Tricks of the Trade – Looking at the Numbers

As part of the normal procedure of analyzing financial and accounting information, a forensic accountant will look closely at the numbers themselves. Such tight scrutiny can help unearth potential fraud or other abuse of financial information, according to David Anderson, a Philadelphia forensic accountant and principal of David Anderson & Associates, a Philadelphia forensic accounting… Read more »

Tricks of the Trade – Dates and Time

In conducting investigations, a forensic accountant often will analyze dates and time to determine if fraud or minority shareholder oppression may be present. Date and time analysis can be used for a variety of purposes, explained David Anderson, a Philadelphia forensic accountant and principal of David Anderson & Associates, a Philadelphia forensic accounting firm that… Read more »

Tricks of the Trade – How A Forensic Accountant Can Use Names, Addresses and Phone Numbers

A forensic accountant can use names, addresses and phone numbers when investigating potential minority shareholder suppression cases and when conducting a fraud investigation. In minority shareholder suppression cases, a forensic accountant will look for employees, subcontractors and vendors having the same last name as that of the majority shareholders, explained David Anderson, a Philadelphia forensic… Read more »

Tricks of the Trade: Benford’s Law Can Serve as Red Flag in Fraud Investigations

The business of forensic accounting is — most of the time — a very precise, highly detailed process. It might surprise you then to learn that one of the tricks of the trade forensic accountants use in fraud investigation stems from the very inexact science of probabilities, specifically, Benford’s Law. “Frank Benford was a physicist… Read more »

Detailed Financial Data Needed for Litigation Support Services and Expert Witness Testimony

A forensic accounting expert in Philadelphia or elsewhere in the U.S. often requires very specific, detailed financial documents for analysis before providing litigation support services and expert witness testimony during legal proceedings. But too often, attorneys engage the services of forensic accountants late in the process after having requested insufficient financial data from the opposition…. Read more »

The Role of the Forensic Accountant in Fraudulent Conveyance Litigation

Faced with losses that come as a result of foreclosures, divorces and other legal proceedings, less-than-scrupulous business owners sometimes resort to the fraudulent conveyance or transfer of property or other assets to lessen or eliminate their losses essentially by hiding valuable assets. When that happens, it is the role of the forensic accountant to uncover… Read more »

Assure Timely Royalty Payments with Royalty Audits by Forensic Accountants

Have you or your clients licensed the use of intellectual property in return for royalty fees?  Are you or your clients franchisors who receive franchise fees from your franchisees?  If so, are you conducting royalty audits in a timely manner to assure that you are receiving the fees to which you are entitled?  If not,… Read more »