Elliott Davis Professionals Discuss Business Fraud in August Issue of Greater Charlotte Biz

The August issue of Greater Charlotte Biz magazine featured two articles by Elliott Davis professionals about the prevalence of business fraud. Shareholder Charles Schulze, a Certified Public Accountant (CPA), Certified in Financial Forensics (CFF), and a Certified Fraud Examiner (CFE) penned “Business Fraud: It’s Not Going Anywhere,” in which he discusses red flags for business owners that may point to fraudulent activities, as well as what employees steal and how business owners can minimize fraud. Schulze’s article is followed by “Fraud Avoidance Tips For Small Business Owners,” an article by Theresa Kaake, an Elliott Davis accounting resources specialist and Certified Bookkeeper (CB).

Elliott Davis Real Estate Advisor Newsletter - January/February 2010

One of the simplest and most common methods of establishing real estate value involves a calculation using one year’s net operating income — but there are better tools available. And, although many real estate owners are engaging in transactions involving the cancellation of debt (COD), such transactions aren’t quite as much of a “gift” as they might first appear.

Elliott Davis is pleased to present the January/February 2010 issue of Real Estate Advisor. In it, we discuss those and other topics related to keeping you up to date on real estate trends. Specifically, we show the importance of having a sound succession plan, and look at different ways to green up an energy-inefficient house, thereby saving energy and tax costs.

Capital Transactions - The Road to Recovery

Aaron Zeide, Elliott Davis Capital Partners

Although talk of “glimmers of hope” and “green shoots” has died down somewhat since the first quarter of 2009, market participants found reasons for cautious optimism. The United States, Canada, Mexico, and Great Britain all reported either smaller than expected declines or outright growth. All the usual leading and concurrent indicators showed improvement, most notably a resilient stock market. However, concerns over inflation, unemployment, and the unavailability of capital may continue to depress a recovery. Treasury Inflation-Protected Securities (TIPS), which are typically used to hedge portfolios against the effects of inflation, are especially in demand now that retail investors’ portfolios are increasingly concentrated in fixed-income securities. Some economists see this as a worrying sign which may preemptively increase inflationary pressures on consumers.

Preserving Wealth - XBRL:  Financial Reporting Standardization

Aaron Zeide, Elliott Davis Capital Partners

A company’s financial statements, when prepared in accordance with Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS), can provide investors, creditors, and directors with a significant, clear understanding of the past, present, and future financial health of the business. Because financial statements are relied upon by so many stakeholders for decision-making purposes, decades of scholarly, commercial, and political activity has centered on improving the accuracy and timeliness of financial reporting. As financial reporting has taken on a larger role, so has the importance of the annual audit.