Expert Testimony for Non-Accountants

Testifying is the pinnacle of an expert witness’s work in a case. It may well be the most important part of the expert’s work, as the assistance of a competent financial expert is the key to cases involving economic damages and other financial calculations.

An expert must do much more than just analyze facts and calculate figures. Traditional accounting and finance skills are not enough when it comes to litigation matters. A financial expert witness must qualify as an expert in court, and must be able to convey her or his findings to non-accountants in both the written and oral formats.

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How to Catch Employees Stealing

top-secret-confidentialHave you ever wondered how and when your employees are stealing from the company? Did you ever wish that you were a fly on the wall, hearing all of the conversations that led up to a group theft? Have you considered secret cameras throughout your workplace to catch employees in the act? Have you wondered what employees are discussing with one another via your internal messaging system? Are you curious about how often employees are surfing the Internet?

It’s no secret that employees routinely steal from their employers. Whether it’s the office supplies taken home for the kids, the extra break while still on the clock, or stealing customer payments, they all constitute theft. Possibly even worse may be the instances of employee disloyalty, such as badmouthing the boss or encouraging good employees to leave the company.

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Naturopathic Medicine Scam

Alternative forms of medicine and therapy are all the rage. What are they an “alternative” to? Traditional western medicine, which is science-based. The American Cancer Society describes naturopathy:

Naturopathic medicine is a complete alternative care system that uses a wide range of approaches such as nutrition, herbs, manipulation of the body, exercise, stress reduction, and acupuncture. Parts of naturopathy are sometimes used as complementary therapy along with mainstream medicine. Naturopathic medicine is a holistic approach (meaning it is intended to treat the whole person) that tries to enlist the healing power of the body and nature to fight disease.

While there are some benefits to naturopathy, patients should not be fooled into thinking that it is a legitimate treatment for any medical condition. Yes, things like stress reduction and acupuncture can have positive benefits to the body overall. Proper exercise and paying close attention to your body and the signs it is giving are good.

But when consumers substitute naturopathy for real medical treatments, they are going down a dangerous path. Real doctors will tell you that naturopathy is nothing but quackery.

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Arbitration Scam on Consumers

Back in the day, arbitration was a reasonable alternative to court rooms. Consumers could seek justice when they were wronged, but in a forum that was quicker and cheaper than going to court. Unfortunately, arbitration has become nothing but a scam on consumers. Companies force consumers into arbitration via their contracts, mainly because the process favors the companies so heavily.

Namely, the arbitration clauses prohibit consumers from banding together to file class action lawsuits. Class action suits have a tarnished image, but are often the only option when there are thousands of consumers who have been harmed by products and services, but the monetary harm to each is relatively small. It is financially impossible for each consumer to pursue a relatively small case, so banding together in class action lawsuits creates economics that make sense.

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What is an Accounting Review?

An independent financial statement audit done by external auditors is the most extensive attest service provided by auditors, and it is still limited. A review of financial statements by an independent auditor is even more limited in scope.

Reviews amount to auditors looking at account balances and determining whether or not the balances look reasonable. They will perform some analytical procedures on the financial statements to further analyze the numbers. On occasion, they may ask to see some details about accounts and their balances, but this happens on a very limited basis.

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Multi-Level Marketing is not a Business (It’s a Pyramid Scheme)

direct-selling-pyramid-schemeOver the weekend, cracked.com posted an insightful article about the realities of multi-level marketing. Simply put, MLM is the same thing as pyramid scheme. It’s not a business. Almost everyone loses money. The behaviors are cult-like. And you will NOT be successful with MLM, so don’t bother trying to recruit your friends and family.

Author Kathy Benjamin calls pyramid schemes the world’s fastest growing industry, and she is right. You see the evidence all over Facebook. Several of you friends are inviting you to their party, or they’re posting staged before and after pictures and leaving cryptic messages that say “ask me how!” They often will not mention the name of the product they’re pushing, because they know they’ll lose you as a potential victim if you Google the product before they can fill your head with lies about how good the product is.

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Essential Oils Scam: NOT a Medical Treatment

Social media has been exploding over the last year with claims that essential oils have cured all sorts of diseases and illnesses. Obviously, this is a total scam. Even worse, essential oils are being pushed through multi-level marketing (also a scam) with companies such as doTERRA and Young Living.

What is the real story about essential oils and multi-level marketing? As our friend Lazy Man has said: No, Your MLM Health Product Doesn’t “Work.” (This most definitely includes Medifast, Herbalife, Xyngular, Isagenix, Usana, and any other MLM with a “health product.”) 

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