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As accountants, we are frequently asked to quantify provisions of settlement agreements. Often, this becomes necessary in post-judgment situations, when the memory of the intent of the agreement – at the time it was negotiated – has “faded” and any ambiguity can provide an opportunity for disagreement. In these situations,...
In a not so common outcome, on November 18, 2020 the US Tax Court upheld two Internal Revenue Service (“IRS”) adjustments that increased Coca-Cola Company's (“Coca-Cola”) 2007-2009 taxable income by more than $9 billion and resulting in a tax bill of more than $3 billion. The IRS successfully challenged Coca-Cola’s...
All of us – as family members, business owners, employees and employers, and buyers and sellers – know what has taken place over the last 18 months. COVID is nowhere near done with us – actually, there is no credible consensus when it will end. Thus, rather than focusing on...
Background When mergers and acquisitions transactions stalled one year ago, at the beginning of the COVID-19 pandemic, no one could have predicted the robust recovery in deal volume that would begin in the second half of 2020 and extend into 2021. The general consensus was that the economic collapse fueled by...
The Collateralized Loan Obligation (“CLO”) market appears to be heading for turmoil. Prior to the COVID-19 pandemic, concerns about the performance of CLOs were already on the rise. The pandemic has applied increased pressure on these securities, resulting in even greater scrutiny of the previously identified underlying weaknesses. The negative economic effect of the...
“Cryptocurrency” has become a part of our vocabulary and plays an increasingly important role in our economy year after year. In 2020, the asset class is still considered relatively new and the term is often misunderstood. In this article, we hope to offer clarity by presenting some basic crypto facts,...
With losses increasingly due to fraud, companies must begin to consider ways in which they can protect against misappropriation of assets. Based on the 2018 Report to the Nations on Occupational Fraud and Abuse published by the Association of Certified Fraud Examiners, organizations lose 5% of their annual revenues to...
Choosing the right financial expert can be the most important decision an attorney makes. A financial expert can have a significant impact on a case and could potentially determine settlement or trial outcomes. When it comes to selecting an expert, the attorney must evaluate the competence and experience of the...
It’s no secret that to properly help you and your clients win your cases, the experts you hire must be credible. An expert’s credibility is based upon many factors, including how honestly they react when confronted with their own errors. An expert’s reaction to their error will determine whether or...