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May 2012


Welcome to our “Client Advisor” newsletter, designed to provide useful and timely information to help you with your accounting, tax compliance and planning, litigation support, business consulting and trust/estate compliance needs.


Dickson Earns Certified Forensic Financial Analyst Designation (CFFA)


Deborah Dickson, CPA, CFF, CFFA, President of Smith Dickson, has successfully completed the rigorous certification process to earn the designation of Certified Forensic Financial Analyst (CFFA) with the prestigious National Association of Certified Valuation Analysts (NACVA®). She previously earned the certification of CFF (Certified in Financial Forensics) through the American Institute of CPAs.

The CFF credential is granted exclusively to CPAs who demonstrate considerable expertise in forensic accounting through their knowledge, skills, and experience. The CFF encompasses fundamental and specialized forensic accounting skills that CPAs apply in a variety of service areas, including bankruptcy and insolvency; computer forensic analysis; valuations; fraud prevention, detection, and response; financial statement misrepresentation; and economic damages calculations. The CFFA certification is designed to provide assurance to the legal community that the designee possesses a level of experience and knowledge to provide competent and professional financial litigation support services.

Ms. Dickson is an experienced CPA and expert witness, with over 25 years in the accounting profession including 15 years in the litigation services area. She began her career as an auditor for Deloitte Touche (formerly Touche Ross) and subsequently accepted an opportunity to run the Entrepreneurial Services Division at PricewaterhouseCoopers (formerly Coopers & Lybrand). She has been President of Smith Dickson, an Accountancy Corporation, since 1982.


Firm News


Smith Dickson has been recognized by OC Metro magazine as one of the “Top 100 CPA firms” in Orange County.


Recent Engagement : Bank Financing


Smith Dickson offers specialized expertise in obtaining or renewing bank lines of credit or loans. For companies that have difficulty obtaining traditional bank financing, we are often able to help turn their situation around.

For example, a new client came to us recently with some fairly severe issues affecting their ability to obtain outside financing. Their underlying records were grossly wrong: annual losses were shown for several years, current year accounts payable were off by $1.2 million, accounts receivable were off by $800,000 and retained earnings were off by $1.0 million.

Our accountants came in, cleaned up the records, and prepared compiled financial statements. The client was then able to show $9.0 million in revenue, $280,000 in profit, and a positive net worth of $800,000. With our guidance and assistance, the company was then able to obtain a $650,000 working capital line of credit from a highly reputable bank, which it had never had before.


Article : The Hot Dog Vendor


Recession mentality starts in one’s own head. If you believe that a recession is still lingering and that times are tough, then they will be for you. It is truly difficult to maintain a positive outlook on one’s professional and personal life during these troubled times. We have a story we would like to share with you regarding how our own attitudes can shape our futures. (click here for article)




Smith Dickson is a full-service Southern California CPA firm that specializes in providing high-quality services designed to create long-term value for our clients. Our services include accounting, tax compliance and planning, litigation support, business consulting, and trust and estate tax compliance. Please contact us with your questions.

This publication is distributed with the understanding that the author, publisher and distributor are not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and, accordingly, assume no liability whatsoever in connection with its use.


© 2012 Smith Dickson, An Accountancy Corporation

18100 Von Karman Avenue, Suite 420
Irvine, CA 92612

(P) 949.553.1020 (F) 949.553.0249

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