Attention:

The Good, the Bad, and the Ugly: Accounting Basics for Bankruptcy Professionals


Level: Advanced
Runtime: 74 minutes
Recorded Date: January 24, 2019
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Agenda


  • Numbers Tell a Story
  • Bankruptcy and Taxes
  • Cash Flow Budgets and Plan Projections
  • Valuation Basics for Bankruptcy Professionals
Runtime: 1 hour and 14 minutes
Recorded: January 24, 2019

Description

This panel will discuss some accounting basics in terms of what trustees and creditors can learn about the debtor early in a case from various financial documents, information gleaned from tax returns beyond just refunds pending, when and why valuations are needed and the methods and assumptions to consider, and the use of cash collateral budgets and projections.

This program was recorded as part of the ABI's Rocky Mountain Bankruptcy Conference on January 24th, 2019.

Provided By

American Bankruptcy Institute

Panelists

John H. Curtis

Managing Member
Rocky Mountain Advisory, LLC

Mr. Curtis is a managing member at Rocky Mountain Advisory, LLC. He has more than eighteen years of experience in performing investigative accounting work, bankruptcy and restructuring case work, troubled company workouts, lost profits and economic damages analyses, business valuations and fraud examinations. He has testified many times in state and federal courts and has served as a court-appointed receiver and fiduciary. Mr. Curtis is a Certified Public Accountant, Accredited in Business Valuation, a Certified Fraud Examiner, and a Certified Insolvency and Restructuring Advisor.

Hon. Kimberley H. Tyson

Judge
U.S. Bankruptcy Court for the District of Colorado

Kimberley H. Tyson is a judge for the United States bankruptcy court, District of Colorado. She was appointed May 12, 2017.

Tyson previously worked as director of Ireland Stapleton Pryor & Pascoe, PC. She was also on the Chapter 7panel of trustees in Colorado. She was a law clerk to the Hon. Jerry Elliott of the Kansas Court of Appeals and for the Hon. John Pearson of the United States bankruptcy court, District of Kansas.

Tyson obtained a J.D. from the University of Kansas School of Law.

Vernon L. Calder

Managing Director
Berkeley Research Group, LLC

Vernon L. Calder has more than thirty years of experience in public accounting, specializing in tax services. He is a Certified Public Accountant and Certified Insolvency and Reorganization Advisor. For the last twenty-plus years, he has specialized in bankruptcy tax compliance and planning.

Prior to joining BRG, Mr. Calder was a director of LECG, LLC, which acquired Neilson Elggren LLP in 2005. Before the acquisition, he was the partner-in-charge of the tax practice of NE. He was also previously a senior manager and tax consultant for Arthur Andersen, senior manager for Neilson Elggren Durkin & Company, manager for the international accounting firms of Ernst & Young, and senior tax consultant for Touche Ross & Co.

Mr. Calder has provided a wide variety of tax services to clients throughout his career. His efforts have focused on special tax issues in corporate, partnership, and individual bankruptcy; formation of and tax compliance for liquidating trusts; representation of taxpayers before federal and state taxing authorities; tax consulting with regard to change of ownership issues; tax consulting and compliance for US companies operating internationally; tax consulting and compliance for corporations with multistate income using "water’s edge" method; analysis of deductible ordinary and necessary business expenses; and supervising tax compliance for high technology companies.

Mr. Calder’s clients have included companies ranging in size from $1 billion in annual sales to small development companies in industries such as computer and peripherals, software, semiconductors, life sciences, energy, hospitality, professional sports, and automotive parts rebuilders. In addition, he has provided tax services to clients including individuals, corporations, partnerships, decedent estates, trusts, and bankruptcy estates. Services rendered include tax compliance, representation before taxing authorities, bankruptcy court appearances, testifying as an expert witness, and tax consulting and planning.

Mr. Calder has been a featured speaker at many firm-sponsored seminars covering special bankruptcy tax issues, new tax legislation, and general tax concepts. He has written numerous articles and other publications.

Gil A. Miller

Senior Managing Member
Rocky Mountain Advisor

Mr. Miller has more than 30 years of experience in public accounting and is the Senior Managing Member of Rocky Mountain Advisory LLC in Salt Lake City, Utah. He has been primarily involved with investigative accounting work, bankruptcy case work, troubled company workouts, breach of contract, contract claims, and fraud examinations. Mr. Miller regularly serves as a bankruptcy trustee and receiver. Mr. Miller is a Certified Public Accountant, a Certified Fraud Examiner, and a Certified Insolvency and Restructuring Advisor. Mr. Miller is a member of the Commercial Panel of the American Arbitration Association and a Fellow in the American College of Bankruptcy.

Anne Eberhardt

Senior Director
Gavin/Solmonese

Anne Eberhardt is a Senior Director with Gavin/Solmonese based in New York City. She has more than twenty years of experience conducting forensic investigations, building financial reporting systems, resolving economic disputes, testing compliance, building and testing financial models, liquidating assets, and strengthening anti-corruption capacity in some of the world’s most difficult environments.

Her clients include top-tier financial services companies, global pharmaceutical companies, government agencies, and international non-governmental organizations. She is proficient in Spanish and is a frequent speaker on topics of corporate governance, fraud, anti-corruption, and money laundering.


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