Over the previous four issues of Forensic Accounting Today, I have provided an overview of how law practices account for revenue and expenses, and introduced the background of an actual case study concerning income reporting. In this issue, I am providing the final portion of the case study. If you would like to review part…
Over the previous three issues of Forensic Accounting Today, I have provided an overview of how law practices account for revenue and expenses, and introduced the background of an actual case study concerning income reporting. In this issue, I am providing the continuation of the case study, focusing on calculation of unreported income. If you…
In the last two issues of Forensic Accounting Today, I provided an overview of how law practices account for income and expenses, and introduced the background of an actual case study concerning income reporting. In this issue, I am providing the continuation of the case study. If you would like to review the initial Part…
In the last issue of Forensic Accounting Today, I provided an overview of how law practices account for income and expenses, including insight into how an attorney can possibly underreport his or her income. In this issue, I am presenting you with an actual case study concerning income reporting. The basis for this book chapter…
The following is an excerpt from “Income Reconstruction: A Guide to Discovering Unreported Income,” published by the American Institute of Certified Public Accountants. It provides insight into how a Forensic Accountant would trace nondisclosed income in one particular type of business. Overview of Law Practices:Reporting Income It is important to understand how law practices account…
By Ron J. Anfuso, CPA, ABV, CFF, CDFA, FABFA Not all marital dissolution cases require the services of a Forensic Accountant. However, many of the more complicated cases in this ever complex and changing area of law do. Some of the reasons to retain a Forensic Accountant are as follows: When unreported or underreported income…
Many people hear the term “fiduciary duty” and think it only applies to business relationships. In fact, divorcing spouses owe a fiduciary duty to each other. This means they must deal with each other fairly in the division of their assets, even when the assets include cryptocurrency. The Meaning of “Fiduciary Duty” in a Divorce…
The differences in allocation of costs in a traditional litigated divorce versus a collaborative law case. Many individuals are concerned about fees when hiring a collaborative team versus an attorney for a divorce case. It appears expensive to the public to be retaining up to Six members of a collaborative team (Two attorneys, One financial…
Presented by Ron J. Anfuso, CPA, ABV, CFF, CDFA, FABFA Background Greg and Jodie Mohler were married on September 12, 1998, and separated on July 2, 2011. Petitioner (Jodie) filed a Petition of Dissolution on January 25, 2012. Greg filed his response on April 9, 2012. Their trial did not take place until November 15,…
Presented by Ron J. Anfuso, CPA, ABV, CFF, CDFA, FABFA Background Charles Brandes founded BIP in 1974 to provide investment advisory services for fees based on the percentage of the company’s clients’ assets under management. When Charles and Linda met in 1983, BIP managed assets of $8.2 million. His annual income was $44,148. Linda agreed…