DAVID H. CRUMPTON, CPA, CFE
1987-Present - Newleaf Corporation, Smyrna.
Consultant, Principal of financial consulting and management and real estate services company specializing in liquidation, restructuring and forensic accounting services for financially distressed businesses and/or their creditors; see the accompanying "Summary of Significant Engagements/ Accomplishments" of Newleaf Corporation
• Analysis and evaluation of the financial position of businesses and real estate portfolios, including evaluating the income tax posture of investors and constructing financial analysis models.
• Formulation of a going-forward workout plan and financial strategy for businesses, including assessing asset values and income potential and preparing related financial forecasts.
• Execution of workout plans by structuring and negotiating transactions, such as sales, leasing, refinancing and/or restructuring the terms of financing based on business cash flow capabilities.
• Forensic accounting and examination assignments to reconstruct accounting records and financial activities of businesses, to evaluate alleged improprieties of management and to identify and recover misappropriated assets.
• Litigation support, and expert witness services with respect to damage analysis, financial reporting, auditing, and/or economic viability of troubled businesses.
• Trustee and Financial Advisor/Consultant to bankruptcy estates in major bankruptcies and Chief Financial Officer services to financially distressed businesses.
1969-1987 - Arthur Andersen & Co., Atlanta.
• National Practice Coordinator of Real Estate--Accounting and Audit Practice, member of firm wide Real Estate Industry Team, and Principal in Audit Division of Atlanta office.
• Formulated strategies and policies for the firm to respond to emerging real estate industry business issues and liaise with National Headquarters personnel on real estate matters.
• Provided consultation to partners throughout the firm on clients' real estate accounting, business and practice problems.
• Authored the firm's real estate accounting policies, real estate industry competence binders, and a number of real estate industry training courses.
• Responsible for the firm's annual advanced real estate industry seminar for experienced real estate partners and managers.
• Directed engagement responsibilities for clients in a wide variety of industries that have collectively involved all facets of real estate development, lending and investing activities and virtually every type of business organization and land use.
SIGNIFICANT ARTHUR ANDERSEN FINANCIAL CONSULTING ENGAGEMENTS
• Savings and loan association--analysis of troubled real estate projects in connection with a purchase investigation.
• Insurance company--business review of adequacy of financial systems to manage diverse portfolio of real estate investments.
• Savings and loan association--evaluation of loss reserves on $900 million portfolio of troubled commercial real estate loans.
• Developer--formulation of a business plan to dispose of troubled properties, fully utilize tax NOLs, and retire delinquent bank indebtedness.
• Real estate investment trust-preparation of "current value" financial statements based on independent appraisals of real estate portfolio of commercial property.
• Numerous-pre-acquisition investigations of real estate projects and portfolios including analyses of valuations and operating cash flows, evaluation of financial projections, and identification of potential problems.
ARTICLES AND SPEECHES
• Speech: "Sick Businesses: When is Euthanasia Appropriate?" for Shearson Lehman Brothers seminar
• Article: "Cash Flow Reporting: A `Total Business' Perspective" for Real Estate Accounting & Taxation.
• Article for the Experience Exchange Report of the Building Owners and Managers Association.
• Speech: "Solutions to Problem Real Estate Loans and Projects" to Bank Lending Institute.
• Speech: "Real Estate Current Value Reporting" to National Council of Real Estate Investment Fiduciaries.
• Panel Member, "Security Law and Accounting Update for Law and Accounting Conference" of the National Association of Real Estate Investment Trusts.
• Speech: "Emerging Issues in Real Estate Accounting" for Accounting Conference of the University of West Florida
• Past Member of Real Estate Committee of the American Institute of Certified Public Accountants; assisted in preparation of the AICPA Audit and Accounting Guide, Use of Real Estate Appraisal Information
EDUCATION AND PROFESSIONAL DESIGNATIONS
• University of Tennessee, Knoxville, B.S. Degree in Business Administration; Accounting Major (1969).
• Certified Public Accountant (Georgia), and Certified Fraud Examiner.
• Member of American Institute of CPAs, Georgia Society of CPAs, and Association of Certified Fraud Examiners.
• Licensed Real Estate Broker (Georgia).