Financial Statement Analysis for Attorneys

Agenda / Content Covered

10:00 am to 5:00 pm Eastern Standard Time
Presenters: Michael T. Dyer, Christine M. Meador, Dennis S. Medica, Chelsea Mikula, Anthony R. Petruzzi, and Adrian Sierra

1. Intro to Accounting
   10:00 - 10:30
   
   1. Double Entry System & GAAP
   2. Intersection with the Legal Practice
2. Financial Statements Primer
   10:30 - 11:30
   
   1. Balance Sheets
   2. Income Statements
   3. Statements of Changes in Equity
   4. Statement of Cash Flows
3. Why the Footnotes Matter
   11:45 - 12:30
   
   1. The Importance of "Going Concerns"
   2. Key Accounting Policies & Their Meanings
   3. Assumptions & Estimates
   4. Reliability: Audit v. Independent v. Internal
4. Is the Business Healthy? Financial Analysis 101
   1:00 - 2:00
   
   1. Financial Analysis Overview
   2. Profitability Ratios
   3. Liquidity Ratios
   4. Leverage Ratios
   5. Likelihood of Bankruptcy
   6. Need for Capital
5. What's the Business Worth?
   2:00 - 3:00
   
   1. Common Valuation Methods
   2. Small Business Valuation Case Study
6. Intro to Forensic Accounting
   3:15 - 4:00
   
7. Ethics and Finance
   4:00 - 5:00
   
   1. Staying within Your Zone of Competency
   2. Doing Business with Clients
   3. Confidentiality Concerns when Dealing with Financial Experts
   4. Identifying and Avoiding Conflicts of Interest

Accreditation Details:

MICHAEL T. DYER is a managing director with Sierra Forensic Group (SFG), and an affiliate of Medica, LLC. Mr. Dyer’s professional experience has provided him with a wide array of knowledge in the areas of accounting, forensic accounting, various types of investigations, and litigation support. He has extensive experience testifying in federal and state court in both criminal and civil matters. Mr. Dyer has conducted multiple engagements within the United States, Canada, Latin America, Europe, and Asia. His experience includes 10A and SEC investigations, health care fraud, embezzlement schemes, kickbacks, vendor fraud, anti-bribery and corruption investigations, and Foreign Corrupt Practices Act (FCPA) matters involving due diligence, investigations, and compliance. Mr. Dyer teaches forensic accounting at the graduate level for the MBA program at DePaul University, Chicago. He also frequently speaks on topics including anti-corruption investigations, compliance, fraud, and interviewing techniques to a variety of audiences, such as the Association of Certified Fraud Examiners (ACFE), the FBI Academy, and the Institute of Internal Auditors (IIA). He worked in the investigations and forensic services practice for PricewaterhouseCoopers LLP for 10 years. He had also served as the regional inspector general of the U.S. Department of Health & Human Services for 12 years. Mr. Dyer was an FBI agent for 17 years where he served as white collar crime coordinator and organized crime coordinator for the FBI's Chicago office where he took special interest in the infiltration of legitimate businesses by organized crime. He holds a Bachelor’s of Science degree in accounting from Southern Illinois University and is a certified fraud examiner (CFE).

CHRISTINE M. MEADOR has focused her professional career on advising non-profit and for-profit organizations. She has over 20 years of experience in financial accounting, budget development, grant work, cash management, financial reporting, internal controls, and analysis of business strategies for a variety of organizations. With her extensive experience, she focuses on assisting non-profit and other organizations with fraud prevention, detection and investigations. She also assists attorneys, executive directors and business owners with financial analysis in complex business disputes. Ms. Meador has extensive experience with accounting systems and accounting department development. She has been brought into many situations to correct and rebuild accounting records, policies and procedures. She has also provided client training on internal audit techniques. As a non-profit consultant, she has served in a variety of roles, such as finance manager, director, director of development and finance, treasurer, and business management consultant. She continues to work directly with boards and their members. She holds a strong interest in corporate governance and the nonprofit sector. Her devotion to nonprofit organizations led her to serve as treasurer for a large nonprofit organization. She provides clients knowledge and insight from the ground up, which allows a broad range of strategies for organizational problem-solving techniques and solutions. Ms. Meador earned her Master of Accountancy in financial auditing and Bachelor of Business Administration in accounting from Cleveland State University. Her passion for fraud prevention led her to Cleveland-Marshall College of Law where she earned a Master of Legal Studies degree focusing on white collar crime and corporate compliance. She also holds a graduate certificate in Nonprofit management from The Maxine Goodman Levin College of Urban Affairs at Cleveland State University. Ms. Meador is a certified fraud examiner (CFE) and a member of the Association of Certified Fraud Examiners. She is also a member of the Cleveland Metropolitan Bar Association (CMBA) and the Women in Law Section of the CMBA. Ms. Meador is an affiliate member of Medica, LLC, and a director on the Board of the Northeast Ohio Chapter of the Association of Certified Fraud Examiners.

DENNIS S. MEDICA has over 25 years of experience assisting senior executives, board of directors, and legal counsel with complex financial issues requiring forensic accounting expertise. Mr. Medica has extensive experience in financial analysis of complex commercial disputes involving intellectual property, business interruption, professional negligence, business valuation, acquisition and divestiture, employment, and various other breach of contract matters. He has served as financial expert for Dana Limited, Coca-Cola Enterprises, Inc., and many other well-known companies. Mr. Medica has testified in criminal and civil matters pending in federal and state courts. He also has experience in forensic accounting investigations, including SEC and other matters addressing issues of fraud and corruption. Mr. Medica also serves as an arbitrator for FINRA in disputes involving securities brokers and dealers. In addition, he has assisted clients with business valuations, turnarounds, complex tax structures and compliance, and financial statement and compliance audits. Mr. Medica is an adjunct professor in the accounting department of Cleveland State University where he teaches fraud examination. He frequently speaks on fraud investigations, damage quantification, and use of financial experts. In addition, he has been interviewed on talk radio in Cleveland on a major fraud investigation performed by the FBI and IRS. He also has been quoted in Crain’s Cleveland Business. He has authored various articles on the effective use of financial experts, international financial reporting standards, and insurance claims. Mr. Medica was formerly director of the investigations and forensic services practice in Cleveland for PricewaterhouseCoopers, LLP. His earlier experience also includes working for Cleveland-based accounting firms in audit and tax roles and serving as interim controller for a manufacturing company. Mr. Medica received his Masters in Business Administration from Cleveland State University where he also received The John Baker EMBA Alumni award in recognition for his commitment to excellence and ethics in business and career development. He earned his Bachelor of Science in Business Administration in accountancy from John Carroll University. He is a member of the Technical Advisory Board of the Forensic and Valuation Services Section of the American Institute of Certified Public Accountants and also the Advisory Council of the Association of Certified Fraud Examiners. Mr. Medica is a Board of Directors member of the Cleveland Metropolitan Bar Association. He is a certified public accountant (CPA), certified fraud examiner (CFE), certified in financial forensics (CFF), certified valuation analyst (CVA), and charted global management accountant (CGMA).

CHELSEA MIKULA is a partner with the Cleveland office of Tucker Ellis LLP. Ms. Mikula is an experienced trial lawyer who represents clients nationwide in all aspects of commercial litigation, with a particular focus on shareholder disputes and ESOP litigation. She has amassed significant trial experience early in her career. As a general commercial litigator, Ms. Mikula has taken several cases to verdict at trial and in arbitration as co-counsel. She is often brought onto large trial teams to assist with preparation of witnesses and overall trial strategy. Ms. Mikula has represented clients in complicated breach of contract actions and other business-related torts. She has a particular emphasis on shareholder disputes and cases involving business valuation issues. Ms. Mikula's passion for truly getting to know clients allows her to better understand their businesses and help them solve problems quickly and efficiently. Complementing her business litigation work and skills as a trial lawyer, she represents corporations and employee stock ownership plan (ESOP) trustees in litigation across the country. At the start of her career, Ms. Mikula spent a number of years focused on consumer product safety issues. Today, she uses that knowledge to advise clients on compliance, reporting obligations, and recall effectiveness and in advertising disputes before the National Advertising Division of the Better Business Bureau and the National Advertising Review Board. Ms. Mikula received her B.A. degree from Denison University and her J.D. degree, cum laude, from Cleveland-Marshall College of Law.

ANTHONY R. PETRUZZI is a partner with the Cleveland office of Tucker Ellis LLP. He focuses his practice in the areas of white collar criminal defense, corporate investigations, business litigation, and eDiscovery. His white collar criminal defense and corporate investigations experience includes the defense of individuals and entities under investigation for or charged with bank fraud, criminal RICO, FCPA, false claims, bribery, public corruption, money laundering, SEC violations, healthcare fraud, tax fraud, federal and state gambling offenses, and mortgage fraud. Mr. Petruzzi also has experience in conducting internal investigations for private and public companies related to whistleblower complaints, employee wrongdoing, and accusations of corporate misconduct. His work on the successful amendment of Ohio Criminal Rule 16 ("Open Discovery") earned him recognition from the Supreme Court of Ohio and the Ohio Association of Criminal Defense Lawyers. Mr. Petruzzi's civil litigation experience includes the defense of individuals and entities, including major corporations, in cases involving fraud, product liability, consumer protection violations, and civil RICO claims, as well as representing corporations in business and commercial disputes. His practice also includes managing the Tucker Ellis eDiscovery Group. He is an active member of The Sedona Conference Working Group 1 (electronic document retention and production working group) and speaks on areas of eDiscovery, both locally and nationally. Mr. Petruzzi is frequently called upon to advise and manage the eDiscovery process for Tucker Ellis clients on litigations of all shapes and sizes. He counsels and provides services to clients in all areas of eDiscovery, including the preservation of ESI, the drafting and negotiation of ESI protocols, conducting custodial interviews, and managing the collection, review, and production of ESI for litigations, including complex litigations, class actions, and multidistrict litigations. Mr. Petruzzi manages the eDiscovery process in an efficient, defensible, and seamless manner for clients, identifying and managing any potential issues so that they can remain focused on litigation. He received his B.A. degree, summa cum laude, from Ohio University and his J.D. degree from Cleveland-Marshall College of Law.

ADRIAN SIERRA is chief executive officer of Sierra Forensic Group (SFG), and an affiliate of Medica, LLC. His professional experience has provided him with a wide array of knowledge in the areas of accounting, forensic accounting, forensic technology, litigation support, and taxation. Mr. Sierra has testified as an accounting expert witness and has prepared expert reports. He has conducted multiple engagements within the United States, Canada, Latin America, Europe, and Asia. His experience includes 10A and SEC investigations, asset misappropriation, kickback, vendor fraud, and anti-bribery and corruption investigations, Foreign Corrupt Practices Act (FCPA) matters involving due diligence, investigations and compliance. He works with public and private multinational clients including Fortune 100 and 500 companies. Mr. Sierra frequently speaks on topics including anti-corruption investigations, comparative accounting, compliance, fraud awareness, artificial intelligence technology, and interviewing techniques to a variety of audiences. Mr. Sierra is a co-founder and co-chair of the Hispanic National Bar Association's (HNBA) Compliance and Ethics Section, an author of the 2019 edition of The Complete Compliance and Ethics Manual from the Society of Corporate Compliance and Ethic (SCCE). He also contributed to A Guide to Forensic Accounting Investigation, by John Wiley & Sons, Inc. and The Global Economic Crime Survey 2007: South and Central America Supplement by PricewaterhouseCoopers LLP. Prior to founding SFG, he worked in the investigations and forensic services practice of PricewaterhouseCoopers LLP (PwC). He received a Bachelor of Science in Accountancy degree from the University of Illinois at Urbana-Champaign. He also completed an executive educational course held at Stanford Graduate School of Business (GSB). Mr. Sierra is a certified public accountant (CPA) licensed in Illinois, a certified fraud examiner (CFE), certified in financial forensics (CFF), and a chartered global management accountant (CGMA).