What kind of work can a forensic accountant do in divorce cases? Tracy Coenen talks about the work of a CPA, including calculating income, evaluating financial disclosures, valuing assets, and completing a lifestyle analysis.
A question often comes up relative to the lifestyle analysis in divorce cases: Isn’t is just data entry that anyone could do? Why do I need a forensic accounting expert? As I explain below, the lifestyle analysis is NOT just a data entry exercise. A level of quality control is necessary in order to ensure … Read more Divorce Lifestyle Analysis Data Entry
If you suspect fraud during your marriage or divorce, you may want a forensic accountant to do a lifestyle analysis. Tracy gives a list of documents that are typically used for the lifestyle analysis, and explains briefly what she does with them.
In high net worth divorce cases, there are often large volumes of data. The lifestyle analysis will rely on a detailed examination of bank, credit card, and investment statements. High levels of spending mean a large amount of data. In this video, Tracy explains how to manage and accurately evaluate the data.
When parties are divorcing, it is not unusual for claims to be made about declining income or lack of assets. Tracy talks about some of the documents that could be used to refute these claims and to prove the existence of assets or streams of income.
Divorcing spouses who own one or more businesses need a detailed financial analysis in order to properly evaluate these interests. A Business Lifestyle Analysis may be performed to determine the true income of the company and find out where the money is really going. Tracy Coenen talks about how she analyzes the detailed accounting records … Read more Business Lifestyle Analysis in Divorce
Tracy Coenen talks about the lifestyle analysis in divorce cases: what it is, and the basic uses for it.
In the below video, Tracy Coenen talks about three common methods that are used to calculate lost profits in commercial litigation: the before and after approach, the yardstick approach, and hypothetical profits. In general, these methods are aimed at determining the profits a company would have realized if the incident giving rise to the litigation … Read more Lost Profits Calculations in Litigation
What do you do when a spouse will not accurately disclose income during a divorce? One option is to analyze the bank statements. Tracy explains how this is done.
In divorce cases, forensic accountants can use the “net worth method of proof” to calculate income. This is used to search for hidden or unreported income. Rather than simply taking a spouse’s word for it that his or her income is X, we can do an analysis like this to try to verify the claimed … Read more Calculating Income Using the Net Worth Method of Proof