VLB
Showing 145–160 of 385 results
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Spotlight on damages – Experts shouldn’t assume causation
November / December 2017
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 433
Abstract: Many attorneys see causation as a legal issue that’s outside a financial expert’s body of knowledge and expect their financial expert to simply accept a plaintiff’s theory of causation. This article explains why this reasoning may be flawed and provides a real-life example of how failure to distinguish damages caused by the defendant from other types of business losses puts an expert’s testimony at risk for being excluded. American Aerial Services v. Terex USA, LLC, No. 2:12-cv-00361-JDL, U.S. Dist. Ct., D. Maine (April 29, 2015)
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Transupport, Inc. v. Commissioner – Court rejects compensation expert’s “result oriented” approach
November / December 2017
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 577
Abstract: Perceived independence is critical when it comes to the effectiveness of expert witness testimony. This article discusses a recent case in which the U.S. Tax Court rejected an expert’s testimony on the reasonableness of compensation paid to shareholder-employees, because he’d failed to provide an “independent and objective analysis.” Transupport, Inc. v. Commissioner, T.C. Memo 2016-216 (November 23, 2016)
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Got IP? Value it with the relief from royalties method
November / December 2017
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 692
Abstract: Intellectual property (IP) is often among a business’s most valuable assets. The value of IP typically comes into play when IP rights are infringed or when selling the asset or the entire business. This article provides an overview of how IP is valued under the relief from royalty method.
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Using data analytics to help prevent and detect fraud
November / December 2017
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 826
Abstract: Organizations that use proactive data monitoring can significantly reduce their fraud losses. This article explains how forensic accountants can use technology to detect patterns and uncover anomalies that may help unearth fraud in real time. A sidebar highlights three real-world examples of how data analytics can be used to detect and prevent fraud.
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Know the perils of financial testimony by owners and employees
September / October 2017
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 432
Abstract: Owners, executives and other key employees sometimes testify in litigation involving lost profits or valuation issues. This article explains how to determine when layperson testimony crosses over into expert witness territory, putting it at risk of being excluded from evidence. It also touches on two cases that illustrate when a company leader’s testimony might be allowed vs. excluded. United States ex rel. Technica, LLC v. Carolina Cas. Ins. Co., No. 08-CV-01673-H (KSC), S.D. Cal., April 11, 2012 Ruhr v. Immtech International, Inc., 570 F.3d 858, 7th Cir., June 30, 2009
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The case of the disappearing discount – Big picture considerations prevail over complex methodology
September / October 2017
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 597
Abstract: When quantifying a discount for lack of marketability, common sense may override complex regression analysis. This article outlines a recent estate tax case in which the Eleventh Circuit Court of Appeals and the Tax Court agreed to value an LLC interest from the perspective of a hypothetical investor, rather than relying on a complex analysis of restricted stock data. Estate of Koons v. Commissioner, 2017 U.S. App., No. 16-10646 and 16-10648, April 27, 2017
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Boo! Solving the mystery of the phantom employee
September / October 2017
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 669
Abstract: Ghosts in a business’s payroll record may be costing them thousands of dollars in bogus salary and bonus expense each year. This article explains how phantom employee frauds work, including the warning signs and tips to help businesses “exorcise” phantom employees from their books.
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Site visits and management interviews – Why experts insist on touring a company’s facilities
September / October 2017
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 828
Abstract: Without site visits and management interviews, it can be difficult for a valuation professional to gather all of the information needed to fully understand a business’s operations. This article provides insight on how these steps facilitate the valuation process. A sidebar identifies three cases that showcase the importance of these procedures. Zeefe v. Zeefe, Ohio App. Dist. 8, No. 69975, Jan. 22, 1998 Kohler v. Commissioner, T.C. Memo. 2006-152, July 25, 2006 Anzalone v. Anzalone, Pa. Sup. Ct., 835 A. 2d 773, Oct. 28, 2003
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In re Marriage of Cheng – Recent case addresses double-dipping debate
July / August 2017
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 457
Abstract: Depending on state law, the issue of “double dipping” may arise when one spouse owns a business and the court awards half of its value to the other spouse plus spousal maintenance based on future business income. This article discusses a case that makes a critical distinction between a business that’s a going concern and one that’s a “diminishing asset.” In re Marriage of Cheng, Wash. App. No. 47937-1-II, November 22, 2016
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How HIPAA affects lawyers and their experts
July / August 2017
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 510
Abstract: The Health Insurance Portability and Accountability Act of 1996 (HIPAA) was designed to safeguard patients’ protected health information. This article covers the privacy and security rules under HIPAA, including ways lawyers and their expert witnesses can navigate those rules during the discovery process to avoid potentially significant civil and criminal penalties.
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Building a fraud case
July / August 2017
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 630
Abstract: When business owners suspect an employee is stealing assets or cooking the books, do-it-yourself fraud investigations can be perilous. It’s important for owners to work with an attorney and a forensic accounting specialist to ensure that the case is handled properly and evidence is preserved and admissible. This article discusses best practices in conducting interviews and gathering evidence, as well as ways company insiders can facilitate the investigative process.
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Small changes, big impact – The growth rate is an important part of lost profits estimates
July / August 2017
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 882
Abstract: One of the more challenging aspects of calculating lost profits is determining the appropriate growth rate to apply during the damages period. This article explains how growth fits into the before-and-after method, as well as factors that experts use to support reliable growth rate assumptions. A sidebar illustrates how small changes to the growth rate and other variables can have a big effect on an expert’s opinion. R.F.M.A.S., Inc. v. So, 748 F. Supp. 2d 244, S.D.N.Y., 2010 Manpower Inc. v. Insurance Company of the State of Pennsylvania, No. 08C0085, E.D. Wis., September 20, 2010 Knox v. Taylor, 992 S.W.2d 40, Tex. App., 1999
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Uncovering hidden assets and income in divorce cases
May / June 2017
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 437
Abstract: In divorce cases, spouses may have an incentive to hide assets and income to minimize support payments or skew marital asset distributions. This article discusses some ways spouses may attempt to conceal their wealth and techniques financial experts use to uncover it.
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Close-up on fair value – FASB simplifies the test for goodwill impairment
May / June 2017
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 693
Abstract: In January 2017, the FASB published guidance to simplify the test for goodwill impairment. This article explains what’s changing under the updated standard and why three FASB members dissented from the decision.
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Owners’ compensation: What’s reasonable for C corporations?
May / June 2017
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 586
Abstract: The IRS and C corporations often disagree about the reasonableness of owners’ compensation. C corporations want payments to shareholder-employees to be classified as deductible compensation expense — but the IRS would prefer these payments to be classified as nondeductible dividends. This article explains the factors that persuaded the U.S. Tax Court to uphold $11 million in deductions for salaries, bonuses and directors’ fees paid to two shareholders in 2003 and 2004. H.W. Johnson, Inc. v. Commissioner, T.C. Memo. 2016-95 (May 11, 2016)
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Questions to gauge marketability — or lack thereof
May / June 2017
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 866
Abstract: The discount for lack of marketability (DLOM) is often a contentious issue in valuation cases. Quantifying it may require some degree of subjectivity, and the discount can have a significant impact on value. This article explains marketability and the factors that experts consider when quantifying this discount. A sidebar lists common sources of empirical data that may be used to support a DLOM.