Calculation of allowed priority benefit claims / Site visit importance / Ghost employees

• Calculation of allowed priority benefit claims under the Bankruptcy Code Recently, the bankruptcy courts had an opportunity to reconcile an apparent inconsistency in the Bankruptcy Code. The code section regarding benefits claims does not clearly indicate a cap on an individual basis, but a cap is clearly stated in the related section regarding wages.
• The importance of a site visit There are a variety of tools available that can help a business appraiser understand the business being valued. These tools may include the company's financial statements, its Web site, and industry research. However, very few tools allow an appraiser to truly visualize a company's operations like a site visit.
• Ghost employees and other scares  Payroll schemes account for just over 20 percent of fraudulent disbursements with a median loss of $50,000, according to the Association of Certified Fraud Examiners. Payroll schemes are occupational frauds caused by false claims to compensation. The three main categories for payroll frauds are ghost employees, falsified hours and salary, and commission schemes.