Posts tagged as:

hotels & resorts

Forensic Accountant John Hutson Interviewed by CNNMoney.com About Business Interruption Issues Related to the BP Oil Spill

by Mary July 16, 2010

John was recently interviewed by CNNMoney.com reporter Catherine Clifford. In her article Florida: BP’s next big mess, John comments about business interruption issues and the impact that the BP oil spill will have on tourism dollars to the hotel and resort industries in Florida and all along the Gulf coast. The Importance of Proper Record [...]

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What’s the Difference Between a BP Oil Spill Claim and a Business Interruption Insurance Claim?

by John July 14, 2010

One word: policy. For BP oil spill claims, there is no policy. For almost two decades, the vast majority of my experience has been in calculating business interruption losses for insurance claim purposes.  Because the amount that a business recovers for a business interruption loss is limited by the provisions within the insurance policy, a [...]

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Gulf Coast Businesses Need Their Own Forensic Accountant

by John July 12, 2010

I recently watched the following video on CNN.  While I have a lot of empathy for the business owner in the story, I think that the angle that the reporter takes in the story shows the reporter’s lack of research into the subject matter by attempting to equate the term “forensic accounting” with “death” for [...]

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Why Should You Document Your Business Interruption Claim from the BP Oil Spill Right Now? Think Hurricane.

by John July 6, 2010
Thumbnail image for Why Should You Document Your Business Interruption Claim from the BP Oil Spill Right Now? Think Hurricane.

Some business owners are choosing to trust BP to “do the right thing” later on and are not immediately hiring a forensic accountant to calculate preliminary estimates of a business interruption loss related to the Gulf coast oil spill.  A business owner or corporate officer could be rationalizing that:  a) BP will pay these losses [...]

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Gulf Coast Restaurants Should Watch Profit Margins for Loss of Business Income After Oil Spill

by John June 4, 2010
Thumbnail image for Gulf Coast Restaurants Should Watch Profit Margins for Loss of Business Income After Oil Spill

Everyone knows that tourists and locals on the Gulf Coast eat seafood and lots of it! After I spend a day on the beach with my wife’s family, one of my favorite places to eat is Lulu’s in Gulf Shores. I’ve many memories of relaxed family meals, the grownups sitting around peeling those shrimp and [...]

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For Resorts Affected by the Oil Spill – The Loss May Be In The Mix of People Who Are Your Guests

by John June 1, 2010

Some resorts are reporting a business interruption and lost revenue due to room cancellations as a result of the BP oil spill in the Gulf. Other resorts along the Louisiana, Mississippi, Alabama, and Florida coast lines are not yet seeing a loss of business income because their rooms are still occupied–by people who are trying [...]

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The Fraud Triangle: Rationalization

by John February 25, 2010
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Criminologist Donald R. Cressey identified three traits that are commonly present when people perpetrate fraud. Cressey created an hypothesis known as the ‘fraud triangle.’ The three sides of the fraud triangle are: Rationalization – Since the majority of individuals who commit serious occupation fraud are not career criminals, they feel a strong need to justify [...]

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How Twitter Can Affect a Business Interruption Settlement

by John January 29, 2010
Twitter

In this digital age, information is abundant and immediate. The best sources for information are no longer newspapers, magazines, or specialty publications. Consumers go online to the “comments” section of an online newspaper, blogs related to an industry, or customer review websites. For example, when my family plans a vacation, we regularly visit Trip Advisor [...]

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