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CU Presentation

CU Presentation. April 25, 2007. What can I do with my Accounting Degree?. Public Accounting Audit Tax Business Consulting Private industry A/P, A/R, G/L Accountant Special Projects Controller Other Options?. What do I have to offer & what do I like to do?. Training – Accounting?

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CU Presentation

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  1. CU Presentation April 25, 2007

  2. What can I do with my Accounting Degree? Public Accounting • Audit • Tax • Business Consulting Private industry • A/P, A/R, G/L Accountant • Special Projects • Controller Other Options?

  3. What do I have to offer & what do I like to do? • Training – • Accounting? • Finance? • Economics? • Statistics? • Systems? • Communication – • Speaking – Oral? Writing? Visual? • Listening – Can you? • Approach to tasks – • “Lead, follow or get out of the way” • Approach to Job or Client – • Salesman - Order Taker - Technician

  4. What is Forensic Accounting, is it an option? • Forensic Accountingis the integration of accounting, auditing and investigative skills. • “Forensic” means, "Belonging to, used in or suitable to courts of judicature or to public discussion and debate." • "Forensic Accounting", provides an accounting analysis that is suitable to the court which will form the basis for discussion, debate and ultimately dispute resolution. • Forensic Accountants need to have the ability to respond immediately and to communicate financial information clearly and concisely in a courtroom setting. • Forensic Accountants look beyond the numbers and deal with the business reality of the situation.

  5. Lost Profits • You (the defendant) did something that negatively impacted me (the plaintiff) and as a result, I have lost money and want you to pay me what I lost. • Actual case involving a plumbing business. • The specific allegation was that Goodyear made public statements that indicated some or all of the reason the in-floor heating systems failed was due to the faulty installation by the contractor. • Plumbing company wants: Past damages $ 6,860,766 Future damages 16,742,220 $23,602,986

  6. Class Action / Claims Administration Class Action • An action brought by one or more individuals on behalf of themselves and “all others similarly situated”. Examples of Class Actions • Cell Phones … over charges • Over charges and transportation deductions from payments to oil & gas royalty interest owners • Deregulation of “Inside Wire” • Change in Bronco season ticket policy when new stadium was built

  7. Stages of A Class Action Dispute/Complaint Settlement &Distribution Certification Notice Trial Commonality ClassRepresentation Typicality How We Can Help You Throughout the Process... • Trial: • Damage analysis and quantification • Expert witness testimony • Counterclaim preparation • Demonstrative evidence • Forensic accounting • Statistical analysis • Deposition preparation • Settlement and Distribution: • Distribution management • Alternative settlement analysis • Statistical analysis • Forensic accounting • “Fluid Recovery” quantification and/or analysis • Damage analysis and quantification • Notice: • Assist in identifying class members • Assist with class member notification • Database design & control • Informational agent function • Dispute/Complaint: • Discovery assistance • Interrogatory assistance • Alternative dispute resolution approaches • Database design and analysis • Damage analysis and quantification • Class Certification: • Measure suitability of class certification • Commonality analysis • Typicality analysis • Analysis of Class’ Demographic Characteristics • Quantification of alleged damages • Financial analysis • Statistical analysis

  8. Fraud Investigation • Project - Investigation of former Administrator of El Paso Retirement Pension Plan … $80 million fund • Size - Largest Public Embezzlement ever prosecuted in El Paso County • Result - 46 felony counts and sentenced to 21 years • We proved and he confessed to - • Theft of death benefits • Theft of security deposits • Bogus invoices • Misappropriation of real-estate transaction fees

  9. Oil and Gas Royalty • Typical allegations … some or all of the following: • Price was to low • Deductions were to high or • There should be no deductions • Huge Volumes of data involved • 1 well may have 5 – 10 different royalty owners • Information is monthly and by product (Oil, Gas, NGLs) • # of wells can be in the thousands • # of years can be from inception • Estimated size 1 x 5 x 12 x 2 x 2,000 x 10 = 2,400,000 lines • Currently have multiple cases each 15 to 20 million records • Need industrial Strength Data base .. SQL Server 2005

  10. What do we do & How do we do it? • Recreation of Opposing Expert’s Model • Acquisition of data • Analysis of data • Scenarios … Sensitivity Analysis • Formulation of Conclusions • Prepare written report and graphical exhibits • Deposition • Testify in Court

  11. Skills Required for this type of work TECHNICAL SKILLS • Computer proficiency • Accounting and finance • Can use financial statements • Excellent writing skills • Capital markets/industry • Valuation techniques PROBLEM SOLVING • Critical thinking • Analytical competency • Creativity • Conceptual ability • Think “outside the box” INITIATIVE / OWNERSHIP • Desire to learn • Attention to detail • Organization • Sense of urgency • Commitment ADAPTABILITY • Ability to work alone • Common sense • Work under pressure INTERPERSONAL • Team player • Self-confidence • Effective communicator • Build relationships

  12. Questions? Contact Information Mike Zeeb Zeeb & Company, Inc. 5690 DTC Blvd, Ste 550E Greenwood Village, CO 80111 (303) 228-3905 www.zeebco.com

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