Recasting Financial Statements to Maximize Business Value

(168 Ratings)

Produced on: October 13, 2016

Course Format On Demand Audio

Taught by

Categories:

Course Description

Time 63 minutes
Difficulty Intermediate

Most tax returns are prepared in accordance with the Internal Revenue Code. The goal of these documents is simple; reduce tax liability within the letter of the law. As a consequence, the data presented to the government contains numbers that are formulated to read as low as possible. Obtaining credit or finding a buyer for your business becomes impossible to achieve when you are using documents prepared with the specific purpose of reducing tax liability. This course, led by Dr. Bart Basi, addresses how to utilize recasted statements to present to a bank or buyer more accurate and useful data. The recasted statements are presentable to a bank, but there should be notice that the statements has been recasted.


Learning Objectives:

  1. Identify errors with tax returns
  2. Understand when to have a client’s financials recasted
  3. Recognize the legality and when to use
  4. Become comfortable in recasting

Faculty

Dr. Bart A. Basi

The Center for Financial, Legal & Tax Planning, Inc

Dr. Basi is a specialist in the areas of business succession, business valuation, mergers and acquisitions, retirement and estate planning, strategic planning, and tax aspects of business decisions for closely held and family businesses. He speaks nationwide, writes, and researches on all of these areas. He has written five loose-leaf bound books, over 300 articles, and has worked with hundreds of businesses and associations. Journals that have published Dr. Basi’s work include Money Matters, The American Journal of Small Business, the Journal of Family Law, The Journal of Estate Planning, The Tax Lawyer, Small Business Taxation, Taxation for Individuals, Taxation for Accountants, Taxation for Lawyers, The CPA Journal and The Tax Executive.

Dr. Basi is the author of  “The Tax Report,” a bi-monthly report on income and estate tax matters for closely-held businesses, “Accounting and Taxes,” a monthly column distributed to individuals and trade journals, and the “Tax Tip,” a monthly tax advisory for the closely-held and family business.

Education

  • Bachelor’s Degree in Accounting, Utica College of Syracuse University
  • Master’s Degree in Business Administration, Syracuse University
  • Juris Doctor in Law, University of Louisville
  • Doctorate in Economics and Accounting, Indiana University
  • Post-Graduate study in Taxation, Stanford University

Professional Licenses

  • Certified Public Accountant – Indiana (1967-2000)
  • Attorney at Law:
    • Kentucky (1969)
    • Pennsylvania (1972-1982)
    • Illinois (1978-present)
    • New York (2010-present)

Academic Affiliations

  • Currently holds the rank of Professor Emeritus at Southern Illinois University.
  • Formerly affiliated with Penn State University, Indiana University, The University of Louisville, and Syracuse University specializing in corporate taxation, estate planning, and business valuations.

Business Affiliations and Memberships

  • Senior Advisor, The Center for Financial, Legal and Tax Planning, Inc. The Center values approximately fifty companies per year.
  • Memberships have included the American Bar Association’s Tax Committees on estate and gift taxes, business succession, and business planning and valuation.

Former Awards, Honors and Recognitions

  • Listed in Harvard Business School Profiles in Business and Management:  An International Directory of Scholars and Their Research.
  • Recipient of educational grants for advanced course work in Taxation from the Practicing Law Institute, New York.
  • Listed in The Tax Analyst Directory and the Lexis Computer Tax Library as a tax professional in the U.S., specializing in family and closely held companies.
  • Listed in Who’s Who:  Comprehensive and National Registries; International Registry;  Leading American Executives, and Among America’s Teachers.
  • Listed as an expert in taxes and business valuations in the Wisconsin and Illinois Register of Expert Witnesses.
  • Member of Phi Kappa Phi, national honorary, Beta Alpha Psi, accounting honorary, and Beta Gamma Sigma, business honorary.
  • Member of the Institute of Business Appraisers

Reviews

KD
keith d.

Still the best speaker and conveyer of information!!

AL
Angelo L.

One of the best courses I have watched on Lawline.

RW
Robert W.

Great Instructor. In depth knowledge with a simplified delivery. Very helpful.

DR
Desiree R.

Prof, Bart exceeds the highest ratings on the chart.

Load More

$59

$ 59 Tax Law and Business, Corporate, & Securities Law In Stock

Accreditation

Get Unlimited Access to Lawline Courses

Unlimited CLE Subscription gives you access to take almost any course from our catalog and earn as much CLE credit as you need.