Why Do Financial Statements Matter?
If one or both spouses own a private business, the financial statements form the backbone of your case. Failing to understand and find problems with the financial statements can mean:
- Higher or lower alimony payments.
- More or less assets.
- A malpractice suit.
The business determines income and assets so getting this right is critical. Get the entire “Divorce with a Business” document list here.
I’m collaborating with my colleague Greg Clark on this post. Greg hails from Indiana and has a similar practice focus—business valuation in divorce and litigation. Greg and I are going to talk about our experiences with financial statements and why they matter to you as a divorce attorney or divorcing spouse.
Josh’s Video here or see it on YouTube here:
Greg’s Video here or see it on YouTube here:
What Should You Do Next?
Do you have questions about why financial statements are important? Or questions about a set of financial statements you have received that do not make sense? We are here to help. As business valuators, we know how to review financial statements to help determine if additional information is needed or what adjustments are required. This is crucial to arrive at a value for divorce or an income for child support or alimony.
If you’re ready for assistance with financial statements, below is our contact information. Get the entire “Divorce with a Business” document list here.
Joshua L. Horn, CPA, CVA
217-649-8794 [email protected] hornvaluation.com
Gregory M. Clark, CPA, CVA
GMC & Company
219-554-9700 [email protected] gmcandco.com