Where is Fraud Likely? – Part 6: Falsified Receipts

Lawrence R. Beebe, CPA

In this series, we are discussing specific areas where fraud might be likely to occur within an organization and the steps management can take to detect and prevent fraud.

You Can Buy a Receipt Book at a Stationery Store

Just because a receipt is attached to a request for reimbursement, it does not necessarily make the receipt valid. An entity hired us to investigate a situation where an employee was being reimbursed for a substantial number of business […]

March 26, 2010 Accounting, Forensic Accounting Read more...

Talkin’ Bout My G-G-G-Generation: When Generations Collide in Family Businesses

Posting by Joel C. Susco, CPA, Principal

If we weren’t talking about family businesses in this blog, and instead were just focused on businesses in general, this same topic could be approached – generational differences in the workplace.  But since we do focus on family businesses, the issue has an added dimension.

Let’s take the maternity leave issue as an example.  In the first generation of “Smith Family Widgets,” the matriarch of the family 50 years ago may have done books […]

March 26, 2010 Family Owned Businesses Read more...

Where is Fraud Likely? – Part 5: Petty Cash

Lawrence R. Beebe, CPA

In this series, we are discussing specific areas where fraud might be likely to occur within an organization and the steps management can take to detect and prevent fraud.

Petty Cash Can Be the Tip of the Iceberg

External auditors often ignore petty cash because the amount of the petty cash fund is immaterial to the financial statements.  Even so, the auditor should look at the volume of transactions in petty cash and should scan those transactions looking […]

March 19, 2010 Accounting, Forensic Accounting Read more...

Where is Fraud Likely? – Part 12: Cooking the Books

Lawrence R. Beebe, CPA

In this series, we are discussing specific areas where fraud might be likely to occur within an organization and the steps management can take to detect and prevent fraud.

Cooking the Books isn’t What Julia Child was Doing

Cooking the books is fraud used to falsify the company’s financial statements.  It is often used to improve the earnings of a company by recording revenues that are either nonexistent or have not been earned by year end.  In recent […]

March 14, 2010 Accounting, Audit, Forensic Accounting Read more...

Where is Fraud Likely? – Part 4: Falsifying Credit Card Charges

Lawrence R. Beebe, CPA, Principal

In this series, we are discussing specific areas where fraud might be likely to occur within an organization and the steps management can take to detect and prevent fraud.

Larceny Often Starts with the Credit Card Charges

Auditors suspecting fraud often start by analyzing the credit card charges of those who are in a position to perpetuate fraud.  Why?  The person stealing from the business entity often starts small and they often start where it is easiest […]

March 10, 2010 Accounting, Audit, Family Owned Businesses, Forensic Accounting Read more...

Geoffrey Brown of Bond Beebe Receives Family Business Advisor Certification

BETHESDA, Maryland (March 4, 2010) – The Greater Washington DC Family Business Alliance (“The Alliance”), the go to resource for family businesses located in Maryland, the District of Columbia, and Northern Virginia, announced today that Geoffrey D. Brown, CPA, a Principal with Bond Beebe, the founding company of the Alliance, has received professional certification as a Family Business Advisor from the Family Firm Institute (“FFI”). The FFI will present Brown with the certification during their international conference, “Family Enterprise: […]

March 4, 2010 Family Owned Businesses, Firm News & Events, Uncategorized Read more...

Geoffrey Brown of Bond Beebe Receives Family Business Advisor Certification

Posting by Admin

BETHESDA, Maryland (March 4, 2010) – The Greater Washington DC Family Business Alliance (“The Alliance”), the go to resource for family businesses located in Maryland, the District of Columbia, and Northern Virginia, announced today that Geoffrey D. Brown, CPA, a Principal with Bond Beebe, the founding company of the Alliance, has received professional certification as a Family Business Advisor from the Family Firm Institute (“FFI”). The FFI will present Brown with the certification during their international conference, […]

March 4, 2010 Family Owned Businesses, Firm News & Events Read more...

Geoffrey Brown of Bond Beebe Receives Family Business Advisor Certification

Bond Beebe, a certified public accounting and advisory firm with offices in Bethesda, Maryland and Alexandria, Virginia, announced today that Geoffrey D. Brown, CPA, a Principal with Bond Beebe, has received professional certification as a Family Business Advisor from the Family Firm Institute (“FFI”).  The FFI will present Brown with the certification during their international conference, “Family Enterprise: New Game? New Rule?” held this year on October 13-16, 2010 in Chicago.  The FFI is the premier international body for […]

March 4, 2010 Family Owned Businesses, Firm News & Events Read more...

ELECTRONIC TAX FILING IS IN YOUR FUTURE – ARE YOU READY?

Glenn Bailey, CPA

Electronic tax filing (or e-filing) is a process where tax returns are submitted to the Internal Revenue Service or your state’s department of taxation through the Internet or direct connection, usually without the need to submit any paper documents.  E-filing can be done through tax preparation software programs, Web sites run by software producers or state tax departments, or by your tax professional.

Have you e-filed your tax return yet?  According to the IRS, 87 million of the […]

March 1, 2010 Accounting, Tax Read more...

PLANNING FOR ESTATE TAXES

Glenn Bailey, CPA

The New Year commencing January 1, 2010 brought the repeal of Federal estate and generation skipping transfer taxes, while retaining transfers on gifts with the highest gift tax rate of 35%.  This dawn of the post estate tax era, which was created through legislation enacted in 2001, led some to conclude the best planning for certain taxpayers was to pass on during the one year window of 2010 and escape estate taxation.  Absent corrective legislation, estate and […]

February 12, 2010 Accounting, Tax Read more...