enamelgonewrong
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- Aug 9, 2019
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undergrad student here with a father who is a general dentist w his own practice. Hes had it for quite some time (started it well over a decade ago) and I recently looked over his profit and loss reports from his accountant spanning a few years.. hes had multiple years where hes lost money (during 3 years his practice net income averaged out at a 70k loss per year).
How is this even mathematically possible?? On a side note, hes recently discovered that someone who used to work for him embezzled via misuse of the company credit card. Do you think its possible that the issue goes much deeper and staff are overpaying themselves? (its a large practice and he doesnt manage payroll, billing, etc himself ). How would we even go about checking this? Hire a forensic accountant?
Thanks for any helpful comments
How is this even mathematically possible?? On a side note, hes recently discovered that someone who used to work for him embezzled via misuse of the company credit card. Do you think its possible that the issue goes much deeper and staff are overpaying themselves? (its a large practice and he doesnt manage payroll, billing, etc himself ). How would we even go about checking this? Hire a forensic accountant?
Thanks for any helpful comments