1 Verified Reviews - 5 of 5.0
AVOID THESE COMMON ACCOUNTING MISTAKES by Chris Burand Some agents make a conscious decision to pay more in taxes in order to bu...
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FRAUDBUSTERS: HOW STAGED ACCIDENTS WORK (AN UNDERCOVER PERSPECTIVE) by Thomas Sarinana 'Capping'-the unlawful solicitation and referral of staged auto accident cases to medical providers...
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HOW TO RECOGNIZE AND PREVENT FRAUD OR EMBEZZLEMENT by Alison Jones and Steve Flowers Many articles have been written about increasing an agency's income by instituting a formal planning proce...
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MYTHS BUSTED: AGENCY TRUST MONEY AND CAPITALIZATION by Chris Burand July 8, 2010 Insurance Journal: lsquo;FBI Raids Tennessee Payroll, Insurance Firm Sommet Group Jul...
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THE BALANCE SHEET DOES MATTER! by Chris...
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THE BALANCE SHEET DOES MATTER! by Chris Burand Chris Burand explains why a balance sheet definitely matters in an agency sale. The degree to which it matters depends on the quality of t...
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An agency valuation I completed recently came in considerably lower than the agency owners expected. The reason? Their balance sheet was very poor and they were materially out of trust: Meaning that their ratio of Accounts Receivable + Cash to Accounts Payable was less than 1. The agency principals were quite upset that I would decrease their value for this reason. They retorted, “We always pay our companies on time, our companies have never been hurt by this, our customers have never been hurt by this, and our CPA has never found fault with this practice. You're the only one who thinks it matters!”