Book Review - Divorce: The Accountant As Financial Expert

The AICPA's publication called “Divorce: The Accountant as Financial Expert” is a great follow on from our article about pursuing forensic accounting as a career and is hot off the presses. 

It might even inspire you to take a closer look at pursuing the certified divorce financial analyst certification.

Written by Kalman Barson his bio from the AICPA website gives you a fantastic insight into exactly what a career in forensic accounting could like like:

  • Extensive financial litigation experience in forensic accounting and business valuation

  • Divorce, shareholder lawsuits, partnership dissolutions, business interruption claims, and fraud and embezzlement.

  • Investigating the financial operations of businesses including wholesale, distribution, construction, manufacturing, and professional service sectors.

  • These investigations and valuations have included complex multi-entity cases, minority stockholder suits, insurance losses, and funds flow tracing.   

It won't come as a surprise that Barson presents and teaches across the country. The focus of the book is how you an accountant can become an expert in divorce cases. 

Many accountants are attracted to this type of accounting career because they have a genuine desire to help couples through a very, very difficult period in their lives. Or they have been through it themselves and know the value of having a trusted advisor alongside you.  However, be prepared ot be referred to a “wife” or “affair” accountant.

“Divorce: the Accountant as Financial Expert” is a very comprehensive book at nearly three hundred pages and we've listed the chapter headings below to to give you an idea as to what you can expect:

  • Chapter 1: Parameters Of The Inquiry
  • Chapter 2 Practical Concerns
  • Chapter 3 Dealing With The Client
  • Chapter 4 Dealing With The Target Company
  • Chapter 5: Analyzing The Balance Sheet
  • Chapter 6 Operating Expenses
  • Chapter 7: Unreported Income
  • Chapter 8: Valuation
  • Chapter 9: Lifestyle Analysis
  • Chapter 10: Final Stages
  • Chapter 11: Concepts
  • Chapter 12: Post Divorce Services
  • Chapter 13: Same Sex Marriages and Civil Unions
  • Chapter 14: Data Forensics
  • Chapter 15: Members on the same Team – Forensic Accountants, Attorneys & Clients
  • Appendix: Managing a Practice

The appendix is very interesting as it outlines how best to manage a divorce practice. Other key topics include:

  • How to maximise your relationships with both sets of attorneys and getting the best out of your clients. We've all seen enough films or real life experience to see how quickly these situations descend into a nightmare

  • How to create a comprehensive lifestyle analysis

  • 20 ways to attack a business valuation

  • The best ways to complete a net disposable income schedule

So, if you have any interest at all in being a divorce accountant or pursuing forensic accountancy as a whole you'd be encouraged to pick up “Divorce: the Accountant as Financial Expert” immediately. You can get it from the AICPA's website or head on over to Amazon - Divorce: The Accountant as Financial Expert 

And as an added bonus the author is giving away 100% of his royalties to charities that work to improve women and children's health and well being. Very admirable indeed.