• Unimpeachable Neutrality vs. Hardboiled Myths: A Direct Response to Hardball with Hitchner Issue 65/66
    Litigation Consulting - QuickRead Top Story - Valuation/Appraisal

    Unimpeachable Neutrality vs. Hardboiled Myths

    May 7, 2026

    A Direct Response to Hardball with Hitchner Issue 65/66 James Hitchner’s March/April 2026 issue of Hardball with Hitchner, which opens with what it calls Myth 39, devoted a substantial part to criticizing my article “Unimpeachable Substance and Principles: Business Valuation Standards and the Substance and Principles of USPAP,” published in NACVA QuickRead on March 12, 2026. I appreciate the attention. Criticism from a visible platform is an opportunity, and I intend to use it fully. James Hitchner’s March/April 2026 issue of Hardball with Hitchner, which opens with what it calls Myth 39, devoted a substantial part to criticizing my article…

  • AI, Work Product, and Rule 26 in Three Cases: Beware of Your AI Queries; They May Not Be Protected
    Artificial Intelligence - Financial Forensics - Litigation Consulting - QuickRead Top Story

    AI, Work Product, and Rule 26 In Three Cases

    May 7, 2026

    Beware of Your AI Queries; They May Not Be Protected When you are a party in a legal matter, sometimes the things you type into an LLM are protected and sometimes they are not. Sometimes, if you share privileged things with your AI-companion, those things are no longer privileged. It depends on what you shared, who you are, and why you shared it. In this article, the author discusses three recent cases that discuss what is discoverable. Three recent cases have addressed the use of large language models (LLM or colloquially referred to as “AI”) in litigation: Warner v. Gilbarco,…

  • QuickRead Top Story - Valuation/Appraisal

    The Bankability Method

    April 22, 2026

    Ensuring SBA 7(a) Financing Success to Close a Small Business Sale The bankability method is an approach the author has developed using the income method of valuation, primarily for companies valued at $5 million and below, to assess the business can be financed under SBA 7(a) and sold. In the articles, the author describes the method and reasons for it being used. The bankability method is an approach I use under the income method of valuation, primarily for companies valued at $5 million and below. These businesses are typically sold to individual buyers—often solo entrepreneurs—who rely on bank financing, most…

  • Practice Management - QuickRead Top Story

    AI as IP™ Framework

    April 22, 2026

    A Practical Guide to Classify, Protect, and Monetize AI Assets (Part I of II) AI serves as a double-edged sword, presenting economic risks and the potential to disrupt and harm various industries, while simultaneously enabling significant innovation and growth across many sectors. Yet, for small and mid-sized enterprises (SMEs), the economic value of AI systems is often invisible in financial reporting, lacks legal protections, and is under-leveraged in financing and valuation efforts. In this two-part article, the authors provide a practical guide that builds on earlier articles in the AI as IP™ series and provides SMEs with a step-by-step framework…

  • QuickRead Top Story - Valuation/Appraisal

    Are We Taking Our Net Working Capital Calculations Seriously Enough?

    April 15, 2026

    In an economic environment where supply shocks and inflation are either not risks or pressing concerns, changes in net working capital receive limited attention. However, where supply shocks and or inflation are real risks, analysts must reassess traditional views to understand net working capital is fluctuating and what strategy management is espousing, along with the risks those strategies bring. In this article, the author invites readers to reassess their views on the implications of changes in net working capital. To answer this question, a brief review is helpful. Working capital (total current assets – total current liabilities) is an accounting…

  • Practice Management - QuickRead Top Story

    The Continuing Relevance of Financial Statements

    April 15, 2026

    The Key Value of Value A complete set of financial statements also include statements of cash flows and other comprehensive income. These statements play important roles, but earnings are still used in these as the starting and dominant measure. Occasionally, the relevance of financial statements is questioned; this article is written to reaffirm their importance. Accountants have been preparing some sort of financial statements since the beginning of written records, which were developed by the Sumerians in cuneiform around 3400 BCE. A more formal, and familiar, report was developed around 1350 CE by the merchants of Venice, Genoa, and surrounding…

  • Artificial Intelligence

    Tame the Chaos

    April 15, 2026

    Organize Your Files Faster with AI’s Claude Cowork This article highlights a practical use case for Claude Cowork: organizing files in a way that saves time and reduces frustration. It explains how AI can help users sort through scattered documents, group related materials, improve naming consistency, and make important information easier to find. Rather than spending valuable time digging through folders and disconnected files, professionals can use Claude Cowork to create a more structured, searchable, and useful file system. The article is designed as a quick introduction and pairs with an external resource for readers who want to see the…

  • Mergers and Acquisitions/Exit Planning - QuickRead Top Story

    Options for Business Owners Exploring Exit Opportunities

    April 8, 2026

    Looking to Reduce Risk, and Increase Liquidity Business owners have a myriad of business exit options. In this article, the author posits that selling the business may not be the best option, and discusses the options business owners may want to consider to suit their goals. The Moment You Start Thinking About an Exit It usually starts quietly. A colleague hangs up the proverbial hat and heads somewhere warm after you bought their book of business in a take-it-or-leave-it deal because you thought it would give you the boost to meet your financial goals. You watch a competitor get acquired…

  • Healthcare - QuickRead Top Story

    DOJ Reports Record $6.8 Billion in False Claims Act Recoveries

    April 8, 2026

    Record Recoveries Announced for Fiscal 2025 In January 2026, the Department of Justice announced that False Claims Act settlements and judgments topped $6.8 billion in fiscal year 2025, which ended September 30, 2025. The authors provide an overview of the actions and others where the DOJ has settled and/or recovered damages. On January 16, 2026, the Department of Justice (DOJ) announced that False Claims Act (FCA) settlements and judgments topped $6.8 billion in fiscal year (FY) 2025, which ended September 30, 2025.[1] This figure marks the largest single-year recovery since the FCA was enacted. The government also opened 401 new…

  • Litigation Consulting - QuickRead Top Story

    Four Specific Indicia

    April 1, 2026

    Of Breach of Fiduciary Duty This article examines four recurring indicia that courts consistently associate with breaches of fiduciary duty: self-dealing and secret profits, misappropriation or misuse of funds, manipulation of financial reporting and compensation structures, and the usurpation of corporate opportunities. Introduction Fiduciary duty cases rarely turn on abstract principles alone. Instead, courts look for concrete patterns of conduct that reveal whether a fiduciary has placed personal interests ahead of the party to whom loyalty is owed. In litigation, breaches of fiduciary duty often emerge through identifiable financial and operational red flags: undisclosed conflicts of interest, unexplained transfers of…

  • QuickRead Top Story - Valuation/Appraisal

    Direct Capitalization Methodology

    April 1, 2026

    And Mid-Period Adjustment to the Capitalization Rate In this article, the author reviews why and how the direct capitalization rate is derived. Income Approach Overview Pursuant to valuation theory, there are three main valuation approaches: the income approach, the cost approach, and the market approach. The income approach is a general way of determining a value indication of a business, business ownership interest, security, or asset using one or more methods that convert anticipated economic benefits into value. Thus, under the income approach, value is measured as the present worth of anticipated future net cash flows generated by the business,…

  • Artificial Intelligence

    Excel Just Got Smarter

    April 1, 2026

    How to Add Claude to Your Spreadsheet Workflow This article highlights a video resource showing how to add Claude to Excel and start using AI directly inside a familiar spreadsheet environment. The topic is especially relevant for professionals who want faster ways to summarize data, generate formulas, organize information, and reduce repetitive spreadsheet tasks. The video’s core promise is that users can bring the benefits of Claude’s AI model into Excel, opening the door to a more efficient workflow for analysis and reporting. Excel has long been one of the most widely used tools in business, but AI is changing…

  • Case Law - QuickRead Top Story

    Legal Update: March 2026

    March 25, 2026

    LeVine v. Platzer: Valuation of Intangible Assets Under New York Partnership Law Statute The valuation of an ownership interest in a law firm can be challenging because it will often include significant unknowns as of the valuation date. The existence of uncertainty is not a justification for assigning no value to such assets. The author discusses LeVine v. Platzer, which involves the valuation of a law firm’s intangible assets under New York’s Partnership Law Statute. According to the United States Small Business Administration, nearly half of small law firms will break up. Those breakups are typically driven by economics or…

  • Litigation Consulting - QuickRead Top Story

    Red Flags Indicating a Breach

    March 25, 2026

    Of Fiduciary Duty in Financial Disputes Forensic accountants are frequently brought into litigated disputes to examine whether individuals in positions of trust, such as business partners, executives, or agents, have breached their fiduciary duties. While this article concerns legal issues, the author intends to express no legal conclusions and/or opinions. Forensic accountants should consult the counsel that engaged them. Introduction Forensic accountants are frequently brought into litigated disputes to examine whether individuals in positions of trust, such as business partners, executives, or agents, have breached their fiduciary duties. While this article concerns legal issues, the author intends to express no…

  • Litigation Consulting - QuickRead Top Story

    Documents of Testifying Experts

    March 18, 2026

    Are My Draft Reports and Notes Discoverable? The purpose of this article is to explain the author’s understanding of certain issues impacting the discoverability of documents of forensic accounting, economic damages, and business valuation expert witnesses. This article is not intended to provide legal opinions, advice, or conclusions. It merely reflects the author’s current understanding of certain legal issues relating to certain aspects of expert witness reports, e-mails, and notes. Experts should consult with retaining counsel regarding specific engagement rules. Introduction The purpose of this article is to explain the author’s understanding of certain issues impacting the discoverability of documents…

  • Litigation Consulting - QuickRead Top Story

    Ensuring Data Authenticity and Governance

    March 18, 2026

    In Litigation and Business Environments As digital interdependence and geopolitical fragmentation grow, ensuring data authenticity, security, and regulatory compliance is more crucial than ever. Trust in data has eroded due to the opaque nature of AI systems, varying regulatory regimes, and governance gaps, reinforcing a critical need for transparency and accountability. The authors of this article discuss the regulatory framework, importance of data protection, risks of failing to protect the same, and how protected data is of value key to the use of AI. Introduction Ensuring data authenticity, security, and regulatory compliance is more crucial than ever as digital interdependence…

  • Litigation Consulting - QuickRead Top Story - Valuation/Appraisal

    Unimpeachable Substance and Principles

    March 11, 2026

    Business Valuation Standards and the Substance and Principles of USPAP In this 25th article of the Unimpeachable Neutrality series, the author wants to make a case that he believes is both technically accurate and practically necessary: the business valuation standards of NACVA, ASA, and the AICPA do not merely conform to the substance and principles of USPAP in a passive or derivative sense. They are built upon those principles, share the same foundational architecture, and in the specific context of business valuation, complement USPAP’s framework with discipline-specific structure. The conversation that the valuation/appraisal profession needs to have is not about…

  • Litigation Consulting - QuickRead Top Story

    A Guide to Discovery Rules

    March 11, 2026

    Federal and State-by-State Guidelines that Expert Witnesses Should Know (Part II of II) Navigating the maze of discovery rules in economic damage cases can be daunting. Professionals often face a patchwork of regulations across jurisdictions. This two-part article provides an overview of key discovery rules applicable in federal courts and each of the 50 U.S. states. Read Part I here. In this second part of the article, the rules for Mayland through Wyoming are summarized. Maryland Maryland’s discovery rules are codified in its Rules of Procedure, with a strong emphasis on early disclosures and efficient case management. Discoverable items include…

  • Artificial Intelligence

    Copilot Confusion

    March 11, 2026

    Figuring Out if Your M365 Licensing is Ready for AI Microsoft Copilot is rapidly becoming one of the most talked-about AI tools in the workplace, but many organizations discover that enabling it is not as simple as flipping a switch. The biggest hurdle is often licensing. Different versions of Microsoft 365 include different capabilities, and not every plan supports Copilot. This article explains how to quickly determine whether your organization has the correct Microsoft 365 licensing for Copilot, what prerequisites are required, and how to identify gaps before attempting deployment. It also outlines the key licenses that are compatible with…

  • QuickRead Top Story - Valuation/Appraisal

    Understanding the Delta

    March 4, 2026

    When 409A Valuations Differ from Funding Rounds In early‑stage and growth‑stage companies, it is common, and often surprising to founders, when the per‑share price established in an IRC §409A valuation does not match the price investors paid in a recent financing round. This difference can feel counterintuitive, especially when the company has just completed a successful raise and the preferred share price reflects strong investor interest. This article discusses why funding round and valuations differ. In early‑stage and growth‑stage companies, it is common, and often surprising to founders, when the per‑share price established in an IRC §409A valuation does not…