Mitigation – A Key Issue in the Assessment of Damages

A damages award must consider steps the plaintiff took, or reasonably could have taken, to mitigate the alleged losses. The defendant has the burden to prove that losses could have been avoided by reasonable efforts of the plaintiff without causing undo expense or risk. Duty to Mitigate One of the principles limiting recovery of damages …

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Divorce business valuations: double dip, reasonable compensation conundrums

Family Law Court magistrates often face two dilemmas regarding what monthly spousal maintenance payments should be when a business is owned by the divorcing couple and is an asset to be distributed in the property settlement part of the divorce. For purposes of discussion, let us assume that the spouse who runs the couple’s business …

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Why CPA testifying experts can’t accept contingent fee engagements

Attorneys are often asked to take on a litigation assignment where there is a potential for a large monetary amount to be awarded to their clients by the court. They may take on the work solely based on a contingent fee arrangement with their client. What this usually means is that if the attorney wins …

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A Time to Reflect

We just rang in the New Year, 2015, and it is now a time for reflection on 2014. First and foremost, I wish to thank all the clients we served during the past year. Henry & Horne ’s Business Valuation and Litigation Support Services Group (H&H BV/LS Group) provided forensic, valuation and litigation services to …

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Use of a Calculation Report in the Court Room

Per the AICPA Statement on Standards for Valuation Services #1 (SSVS #1), a valuation analyst may complete a calculation engagement for which he/she would submit a calculation report. A calculation engagement is much more limited in scope than a valuation engagement. A valuation engagement is performed for the purpose of expressing an opinion of value …

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Save courtroom time, promote collaboration between CPA experts

When I have to testify regarding my opinion of value regarding the ownership interest in a business, I have found a particular strategy that speeds up my time on the witness stand. The strategy often helps settle not only business valuation differences between appraisers, but those relating to economic damages cases as well – before …

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AZ Child Support: FAQs of a Forensic Accountant

The Arizona Child Support Guidelines provide a standard of support for children and are based on both the needs of the children and the ability of the parents to pay. The Guidelines provide specific calculations to perform in order to determine the proportional share that each parent should pay based on various factors. In order …

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Deposition Testifying Tips for Beginners – Part II

We continue with more tips for the first-time deposition testifier. Read Part I here. More Easy Questions – You will be asked some more really easy questions related to such topics as the name of your employer, and a bit about your work history including your current position.  You may also be asked whether you …

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Deposition testifying tips for beginners – part 1

  If you are going to be testifying on a litigation matter for the first time, say at a deposition, and you have a pulse, you are probably experiencing a large amount of stress.  Here are a few tips that may alleviate some of that stress and make the going a little easier for you.  …

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