Audio CD + Course Book

Forensic Accounting 101 for Attorneys

Audio CD + Course Book

Copyright Date:

May, 2018

Product ID#:

78840CDRA

Audio + Course Book

Credit Information

Continuing Legal Education

  • KY CLE - 6.00
From Event: Forensic Accounting 101 for Attorneys, held May 2018.

Program Description

Being able to artfully examine, investigate and communicate financial information as an attorney is crucial. Whether you're reviewing financial statements, business valuations, tax returns or calculating damages, being able to look beyond the numbers and identify potential areas of concern is essential to ensuring your client's best interest (and bottom line). Filled with real-world examples, practical tips and fundamental tools needed to tackle everyday financial issues, this comprehensive guide will show you how to analyze common financial documents and look beyond the numbers to interpret key findings. Led by forensic accountants, you'll learn best-kept secrets, time-tested techniques and useful tools you can start using right away to put yourself steps ahead of your colleagues and ensure your clients are receiving favorable financial outcomes - order today!

Course Content

  1. Forensic Accounting Key Terms, Definitions and Lingo (with Real-World Examples)
  2. Assessing Misrepresentations in Financial Statements (with Real-World Examples)
  3. How to Calculate Damages Like a Forensic Accountant (with Real-World Examples)
  4. Business Valuation - Dissecting Closely Held Entities
  5. Savvy Ways to Locate Hidden Assets, Interests and Income (with Real-World Examples)
  6. Ethical Standards

Continuing Education Credit

Continuing Legal Education – CLE: 6.00 KY - Credit Approval Expiration Pending *


* denotes specialty credits

Agenda / Content Covered

  1. Forensic Accounting Key Terms, Definitions and Lingo
    9:00 - 9:45, John Herring
  2. Assessing Misrepresentations in Financial Statements (with Real-World Examples)
    9:45 - 11:15, David S. Angelucci
    1. Documents Necessary for Analysis - Overview and Checklist
      1. Balance Sheet
      2. Income Statements
      3. Statement of Cash Flows
      4. Statement of Retained Earnings
    2. Ratio Analysis - How to Look Beyond the Numbers
      1. Liquidity Analysis
      2. Leverage
      3. Activity/Efficiency Analysis
      4. Profitability Analysis
    3. Business Cash Flow Analysis
    4. Deconstructing Form 1040
  3. How to Calculate Damages Like a Forensic Accountant (with Real-World Examples)
    11:30 - 12:30, John Herring and Melissa D. DeArk
    1. Documents Necessary - Checklist and Overview
    2. State and Federal Laws That Apply
    3. Loss of Earnings
    4. Lost Profits
    5. Business Damages
    6. Writing Economic Loss Appraisals
    7. Review of Damage Reports
  4. Business Valuation - Dissecting Closely Held Entities
    1:30 - 2:30, John Herring and Melissa D. DeArk
    1. Documents Necessary for Valuation - Checklist and Overview
    2. Applying the Correct Valuation Approach/Method
    3. Refuting Valuation Approaches and Methods
    4. Determining Accuracy of Disclosures
    5. Calculating Discounts and Premiums - Are They Skewed?
    6. Where to Look for Red Flags (Acquisitions, Mergers, Shareholder Disputes, etc.)
    7. How to Spot Differences in Standards of Value
    8. Effectively Using Daubert Challenges to Disprove the Valuation
  5. Savvy Ways to Locate Hidden Assets, Interests and Income (with Real-World Examples)
    2:45 - 3:30, Nick Lynch
    1. Crafting Discovery Requests to Obtain Key Data
    2. Hidden Income Analysis Methods
    3. How to Analyze Retirement Plans
    4. Detecting Debtors Hiding Assets with Relatives
    5. Digging Deep into Internal Databases
    6. Depositions and Interrogatories - Do's and Don'ts
    7. Subpoenaing Business Records
    8. Issues with Privilege, Privacy, and Fraudulent Transfers
    9. E-Mail, Text Messages, Social Networking Sites, Blogs and Online Evidence
    10. Uncovering Hidden Property
    11. Using Bankruptcy, Judgment and UCC Searches
    12. Publicly Available Information
    13. Government Records and Court Records
    14. Bank and Credit Bureau Information
    15. Stock Option Compensation, Bonds and Mutual Funds
    16. Probate/Estate Documents, Trust Interests, QDROs
  6. Ethical Standards
    3:30 - 4:30, Peter L. Ostermiller
    1. Work Product Doctrine
    2. Avoiding Penalties and Sanctions Associated with Valuations
    3. Conflicts of Interest
    4. Protecting Confidentiality
    5. Addressing Financial Misconduct

*Disclaimer: This program is meant to be an educational guide to forensic accounting and does not constitute NBI's endorsement or recommendation of any forensic accounting provider.

DAVID S. ANGELUCCI is an associate director of business valuation services with Dean Dorton Allen Ford, PLLC. He has performed valuations in a variety of contexts, including: estate, gift, and income tax planning and reporting; shareholder transactions; marital dissolutions; mergers and acquisitions and financial reporting valuations for business combinations, goodwill, and intangible asset impairment testing; and stock compensation purposes. Mr. Angelucci has valued companies engaged in numerous industries, including the following: manufacturing, wholesale distribution, coal, oil & gas, healthcare, professional services, banking, equine, and holding companies primarily owning real estate, marketable securities, and closely-held stocks. He has experience in public speaking on fair value accounting topics for financial reporting purposes, understanding financial statements, business valuation concepts, and business competitive advantages. Mr. Angelucci is a member of the American Institute of Certified Public Accountants, Kentucky Society of Certified Public Accountants, and the Financial Consulting Group. He received his B.A. degree from Indiana University.

MELISSA D. DeARK is an associate director with Dean Dorton Allen Ford, PLLC (litigation support and business valuation group). Prior to joining the firm, she was a controller and chief financial officer for more than 16 years with full responsibility for all financial, administrative and human resource functions for multi-million dollar organizations. Ms. DeArk specializes in helping attorneys and their clients understand the financial and tax issues specific to the divorce process through a variety of services including: disposable income and cash flow analysis; forensic accounting services; preparation of marital estate balance sheet; marital and non-marital tracing; alimony calculations; business valuation; and expert witness testimony. She performs business valuation in a variety of contexts, including: estate, gift, and income tax planning and reporting, marital dissolutions, shareholder transactions, and mergers and acquisitions. Ms. DeArk has valued a variety of retail establishments, service businesses, and holding companies owning real estate, marketable securities, closely-held stock, and other assets in the following industries: manufacturing, healthcare, and wholesale distribution. She is a certified public accountant and financial forensics for the American Institute of Certified Public Accountants and a certified forensic financial analyst for the National Association of Certified Valuation Analysts. Ms. DeArk earned her B.A. degree, magna cum laude, from Bellarmine University, and her M.A. degree from Indiana University.

JOHN HERRING is associate director of business consulting services with Dean Dorton Allen Ford, PLLC. He has performed a variety of audit and business consulting services for clients in various industries throughout Kentucky. In addition to his valuation work, he continues to serve clients in the contracting, wholesale distribution, and retail industries, providing various consulting services. Mr. Herring has performed valuations in a variety of contexts, including martial dissolutions, estate, gift, and income tax planning and reporting, shareholder transactions, and mergers and acquisitions. He has valued companies engaged in the coal, oil & gas; construction; manufacturing; equine; healthcare; and wholesale distribution industries. Mr. Herring has also valued a variety of retail establishments (including restaurants), service businesses, and holding companies owning real estate, marketable securities, closely-held stocks, and other assets. He has experience in public speaking on topics such as personal goodwill, valuing stock options, and services that financial experts can provide for family law attorneys. Mr. Herring is a member of the American Institute of Certified Public Accountants, the Kentucky Society of Certified Public Accountants, and he is accredited in business valuation and certified in financial forensics by the AICPA. He received his B.A. degree from the University of Virginia.

NICK LYNCH is an associate director of the forensic accounting and litigation support services with Dean Dorton Allen Ford, PLLC. He specializes in forensic accounting and fraud investigations. Mr. Lynch's relevant experience includes a variety of investigations and forensic accounting assignments, including asset misappropriation, financial statement manipulation, Ponzi schemes, product diversion, shareholder dilution schemes and other corruption. He has also performed background investigations and asset tracing assignments to assist with the collection of court judgments, pre-transaction due diligence and to support financial investigation by identifying undisclosed related party relationships. Mr. Lynch also regularly conducts fraud risk assessments and internal control evaluations. He has provided services to both publicly-traded and privately-held clients in diverse industries including: healthcare, consumer products, insurance, manufacturing, financial services, natural resources, equine, and not-for-profits, among others. Mr. Lynch is a member of the American Institute of Certified Public Accountants, Kentucky Society of Public Accountants, and Association of Certified Fraud Examiners. He is a certified public accountant, is certified in financial forensics, and is a certified fraud examiner. He speaks regularly on the topics of forensic accounting, investigations and internal controls. Mr. Lynch received his B.S. degree in accounting from Pikeville College and his M.S. degree in accounting from Loyola University Chicago.

PETER L. OSTERMILLER has been in the private practice of law in Louisville since 1980. He is a sole practitioner concentrating in legal ethics and professional responsibility matters. Mr. Ostermiller represents attorneys in disciplinary and reinstatement proceedings, judges in judicial ethics matters, and bar exam applicants. He has also represented parties in attorney’s fee dispute proceedings, attorneys in legal proceedings in which sanctions have been sought against the attorney, represented parties in attorney disqualification proceedings, and counseled lawyers and law firms in their respective rights, responsibilities and duties to other attorneys and their clients. Mr. Ostermiller has also served as an expert witness in legal ethics/legal malpractice matters. He is a member of the Kentucky Bar Association, Louisville Bar Association and the Association of Professional Responsibility Lawyers. Mr. Ostermiller served on the Kentucky Bar Association's Ethics 2000 Committee which proposed changes to the Rules of Professional Conduct to the KBA, which resulted in the July 2009 revisions to the Ethics Rules. Mr. Ostermiller graduated with his B.A. and J.D. degrees from the University of Louisville.

Please refer to Continuing Education Credit FAQ for general information about seeking credit for your participation in one of our continuing education programs.

Additionally, our team of credit specialists are here to answer your specific credit-related questions weekdays 7am - 5pm Central:

Phone: 866-240-1890

Email: credit@nbi-sems.com

Accreditation Details:

Continuing Legal Education

KY CLE: 6.00 Pending Credit Approval Includes - Ethics: 1.00
Application for approval of this activity for a maximum of 6.0 credits, including 1.0 ethics credit, is PENDING before the Kentucky Bar Association Continuing Legal Education Commission.


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