Overview:
Divorce forensic accounting is unique in the realm of financial investigations. This course introduces the analyst to forensic accounting, discusses the expectations of the forensic accountant in the divorce process, and provides an introduction to some of the analyses requested by the analyst. Careful analysis of tax returns and supporting financial information is critical to accurately calculating cash flow for alimony and/or child support and valuing a business. This course provides insight into how to perform these basic calculations.
Objectives:
• Identify the basic rules that forensic accountants needs to know for family law engagement • Determine the basis of preparing a cash flow analysis for family law purposes • Recognize ways that business assets and income may be concealed • Discovery techniques for unreported income, non-necessary business expenses and owner perks
Major Topics:
• Lifestyle issues: Does the client's lifestyle reflect the level of reported income? • Undisclosed income • Transfers of cash between multiple bank accounts, related party transactions and mortgage refinancing • Owner perks • Tax deductions vs. family law deductions • Business entity-related issues such as partnerships, S corps and corporations
Major Topics:
• Lifestyle issues: Does the client's lifestyle reflect the level of reported income? • Undisclosed income • Transfers of cash between multiple bank accounts, related party transactions and mortgage refinancing • Owner perks • Tax deductions vs. family law deductions • Business entity-related issues such as partnerships, S corps and corporations
Designed For:
Beginning forensic accountants or intermediate accountants who need a refresher course.
Prerequisites:
None