Services

Arson

Our forensic accountants are experienced in fire claims, whether they are as a result of arson,negligence, faulty equipment/wiring, acts of nature, etc. We analyze pre and post loss costs as well as any other relevant information to determine the costs attributable to the loss and to facilitate a successful resolution of the claim. We request and analyze additional documentation to support the claim.

We work along with our client, and any contractors, engineers, and consultants necessary to determine the loss amount and achieve successful resolution of any dispute that might arise.

Finally, we report on our findings in a clear, concise, and easy to understand format.

We are committed to providing prompt and reliable professional service to our clients at a cost effective rate. We maintain a flexible staff and schedule, so that we can accommodate each assignment as required by our client.

Business Appraisal

CGM Accounting Associates, Inc.’s experienced consultants provide business appraisal/evaluation for a variety of situations.

These situations include but are not limited to:

  • Buy/Sell Agreements
  • Purchase or Sale
  • Loss of Goodwill
  • FASB 141/142
  • Revenue Ruling 56-60
  • Partnership/Shareholder dispute and liquidation
  • Litigation dispute

The industry basically utilizes three valuation methodologies – Income, Asset and Market. We attempt to match the valuation methodology with each engagement and we can support our findings in both calculations and written reports.

Finally, we are committed to providing prompt and reliable professional service to our clients at a cost effective rate. We maintain a flexible staff and schedule, so that we can accommodate each assignment as required by our client.

Business Interruption

Our forensic accountants provide timely analysis of claims arising from incidents such as accidents, fires and explosions, natural disasters such as flooding, man made disasters, and human error or negligence that result in reduced revenues and lost profits. For business interruption claims, we determine the lost production and/or sales and extra expenses incurred or saved as a direct result of the loss for the extent of the loss period. We also evaluate the effect of the business interruption on projected revenues, expenses and profits.

Our forensic accountants perform a detailed review of the company’s operational and financial records as well as a comparison of projected results versus actual results. We also look at the seasonality of the business and separate out any losses incurred that are not a result of the incident. We request and analyze additional documentation to support the claim, as necessary. Through working alongside our client, and any contractors, engineers, and consultants, we assist in determining the loss amount and achieve successful resolution of disputes that might arise. Finally, we report on our findings in a clear, concise, and easy to understand format.

We are committed to providing prompt and reliable professional service to our clients at a cost effective rate. We maintain a flexible staff and schedule, so that we can accommodate each assignment as required by our client.

Business Property

Our forensic accountants provide timely analysis of claims resulting from incidents such as accidents, fires and explosions, natural disasters such as flooding, man made disasters, and human error or negligence that result in Business Property and Personal Property losses.

We review all relevant claim related documentation, such as financial statements, tax documents, and inventory, material, and equipment quantities and costs. This is done in an effort to verify any equipment, inventories, machinery, and other property claimed regardless of whether it is an in sight loss or an out of sight loss.

Additionally, we work to determine the value of raw material, works-in-progress, and finished goods claimed, when necessary.

We also request and analyze additional documentation to support the claim.

To determine the loss amount, and successfully resolve any disputes that might arise, we work along with our client, and any contractors, engineers, and consultants.

Finally, we report on our findings in a clear, concise, and easy to understand format.

We are committed to providing prompt and reliable professional service to our clients at a cost effective rate. We maintain a flexible staff and schedule, so that we can accommodate each assignment as required by our client.

Coinsurance

Our forensic accountants have experience in cases involving coinsurance calculations.

Many property policies have a coinsurance clause requiring the policyholder to purchase insurance coverage that is at least equal in value to a specified percentage of the actual cash value of the property. Coinsurance is intended to encourage policyholders to carry an adequate amount of insurance. When coverage falls below the required level, a policyholder must coinsure the claim to the extent that the limit is deficient.

We are committed to providing prompt and reliable professional service to our clients at a cost effective rate. We maintain a flexible staff and schedule, so that we can accommodate each assignment as required by our client.

Construction

Our forensic accountants provide timely analysis of construction claims arising from accidents, criminal mischief, fires, flooding, human error or negligence, etc.

We are experienced in all types and phases of construction from new homes to municipal construction projects.

Our forensic accountants analyze pre-construction and post-construction costs as well as any other relevant information to determine the costs attributable to the loss and to facilitate a successful resolution of the claim. We request and analyze additional documentation to support the claim.

We review costs and relevant documentation, such as:

Direct and indirect labor costs, to include:

  • Descriptions of the work performed
  • Verification of all claimed hours and rates
  • Fringe benefits
  • Sub-contractor costs

Material costs, to include:

  • Invoices pre and post loss
  • Payment information
  • Price testing for accuracy

In addition, our senior staff can provide expert witness testimony for resulting claims.

We work along with our client, and any contractors, engineers, and consultants necessary to determine the loss amount and achieve successful resolution of any dispute that might arise.

Finally, we report on our findings in a clear, concise, and easy to understand format.

We are committed to providing prompt and reliable professional service to our clients at a cost effective rate. We maintain a flexible staff and schedule, so that we can accommodate each assignment as required by our client.

Extra Expenses

Our forensic accountants provide timely analysis of Extra Expenses incurred as a result of accidents, fires and explosions, natural disasters such as flooding, man made disasters, and human error or negligence.

We review all relevant claim related documentation, such as financial statements, inventory, material, and equipment costs, direct and indirect costs, payroll expenditures, etc. We request and analyze additional documentation to support the claim.

We evaluate and audit extra expenses incurred to determine whether or not the claimed expenses are as a result of the loss. We also determine the extent of any saved or non-continuing expenses and identify extra expenses to be claimed under Business Interruption.

We work along with our client, and any contractors, engineers, and consultants necessary to determine the loss amount and achieve successful resolution of any dispute that might arise.

Finally, we report on our findings in a clear, concise, and easy to understand format.

We are committed to providing prompt and reliable professional service to our clients at a cost effective rate. We maintain a flexible staff and schedule, so that we can accommodate each assignment as required by our client.

Inventory Loss

Our accountants are experienced in cases involving inventory loss that has been either damaged or lost regardless of whether it is an in-sight loss or an out-of-sight loss.

The quantity, cost, and value of inventory lost or damaged can be reasonably established through the analysis of relevant claim related documentation, such as inventory purchases and sales leading up to and following the loss. We also take into consideration obsolescence and slow moving inventory. The accuracy of the claimed costs can be reasonably determined through price testing when necessary. We also request and analyze additional documentation to support the claim.

We work along with our client, and any contractors, engineers, and consultants to determine the loss amount and successfully resolve any disputes that might arise.

Finally, we report on our findings in a clear, concise, and easy to understand format.

We are committed to providing prompt and reliable professional service to our clients at a cost effective rate. We maintain a flexible staff and schedule, so that we can accommodate each assignment as required by our client.

Lost Rent

Our forensic accountants are experienced in cases involving Loss of Future Earnings.

We review all relevant claim related documentation in an effort to calculate the Loss of Future Earnings. When necessary, we utilize tables such as the Work Life Expectancy table in our analysis. We take into consideration the state within which the claimant resided to make applicable adjustments to the loss amount.

We request and analyze additional documentation to support the claim, as necessary.

We work along with our client to determine the loss amount and successfully resolve any disputes that might arise.

Finally, we report on our findings in a clear, concise, and easy to understand format.

We are committed to providing prompt and reliable professional service to our clients at a cost effective rate. We maintain a flexible staff and schedule, so that we can accommodate each assignment as required by our client.

Surety/ Fidelity Bonds

Our forensic accountants have experience in valuations of Surety/Fidelity Bond losses that occur as a result of dishonest or fraudulent acts by employees, to include embezzlement, fraud, theft of money, as well as the misappropriation of assets and merchandise.

We evaluate and audit financial information necessary to separate out any fraudulent activity.

We work in conjunction with our client to determine the restitution amount.

Finally, we report on our findings in a clear, concise, and easy to understand format.

We are committed to providing prompt and reliable professional service to our clients at a cost effective rate. We maintain a flexible staff and schedule, so that we can accommodate each assignment as required by our client.

New York

(212) 766-4050

(973) 301-9091

info@cgmaa.com

Headquarters

New Jersey - North

(973) 301-9020

(973) 301-9091

info@cgmaa.com

New Jersey - South

(856) 213-6658

(267) 324-5523

info@cgmaa.com

Pennsylvania

(267) 324-5533

(267) 324-5523

info@cgmaa.com

Texas - Dallas / Fort Worth

(214) 499-5691

(973) 301-9091

info@cgmaa.com