Advocate's Edge / Litigation Support
Showing 241–256 of 384 results
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New COSO guidelines focus on fraud — do your clients?
November / December 2013
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 495
Abstract: The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has released the long-awaited revision of its Internal Control — Integrated Framework, updating internal control guidelines that dated back to 1992. This article talks about how the new framework is designed to help organizations apply internal controls more broadly to operations and reporting objectives and to develop a better understanding of how to assess internal controls.
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Excess earnings method – Higher valuation of law practice prevails in divorce case
November / December 2013
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 601
Abstract: In divorce, the value of a spouse’s interest in a professional practice can play a significant role in the final financial outcome. However, such appraisals can result in a range of values. In one recent case, Wright v. Wright, the spouse’s expert used a methodology to arrive at a value three times higher than that of the husband’s expert. This article explains why the court disputed the husband’s contention that this “bottom-up” method didn’t apply.
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Experts put damages assessments in the frame
November / December 2013
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 699
Abstract: Without a framework for assessing damages, jurors are more likely to make outsize awards that punish the entire company and its stakeholders rather than the offending individuals or company division. But, as this article explains, by breaking a company down, putting profits into perspective and explaining such concepts as net worth and fair market value (FMV), damages experts provide a context for a reasonable award.
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Patent infringement: Scrutinizing the “entire market value” rule
November / December 2013
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 739
Abstract: Proving damages in patent cases is rarely straightforward, particularly when the infringing item is only a small feature of a larger product. The general rule is that royalties should be based on the “smallest salable patent-practicing unit.” But there’s an exception to this principle — the “entire market value” rule. This article examines one case in which the court decided whether the rule applied. A sidebar discusses four litigation settlement agreements used by the plaintiff’s expert to establish damages.
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IP litigation – Making the case for (or against) disgorgement of profits
September / October 2013
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 435
Abstract: In certain types of intellectual property cases, plaintiffs are entitled to recover — or disgorge — the profits the defendant reaped as a result of the infringement. But determining the proper amount for those profits can prove tricky, especially when it comes to allocating expenses and revenues. This article argues that a financial expert witness must be able to speak authoritatively to both claimed gross revenues and claimed costs and apportionment.
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Tax Court rejects charitable deduction – Conservation easements require strict substantiation rules
September / October 2013
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 605
Abstract: The Internal Revenue Code allows taxpayers to take charitable deductions for qualified conservation contributions. But satisfying the requirements for deductions without solid expert input is difficult, as the taxpayer in one recent case learned. After she donated a façade conservation easement, the IRS challenged the value she claimed as a deduction. This article explains why the appeals court rejected her appraiser’s opinion and accepted the IRS’s position that an easement wouldn’t materially affect the value of her property.
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How to spot and stop expense account cheating
September / October 2013
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 683
Abstract: The same conditions that make it possible for one employee to cheat may enable others to submit false expense reports. And even small amounts can add up to big losses when several employees and multiple reports are involved. This article explores a few of the more common expense fraud schemes. It also notes control policies and procedures, but emphasizes that enforcement of such controls is key.
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Court takes more expansive view of goodwill in divorce case
September / October 2013
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 754
Abstract: Goodwill continues to fuel debate in divorce cases involving professionals such as attorneys and physicians. This article examines one case in which the court of appeals reversed a family court’s ruling limiting a law firm partner’s goodwill to the amount he would receive under a stock redemption agreement. The court described other “determinative factors” a court may consider in determining the existence and extent of goodwill. A sidebar addresses the question of whether professional goodwill can be considered community property.
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Valuation in the courts – Do discounts apply to real estate holding corporations?
July / August 2013
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 453
Abstract: Discounts for lack of marketability (DLOM) aren’t unusual when a business or real estate is valued. But what about when a business that holds real estate is valued? Can DLOMs be applied to both the real estate and the corporation? Yes, according to one New York court — and that discount should account for built-in gains. This article summarizes the case.
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Your financial expert’s role in employment litigation
July / August 2013
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 690
Abstract: Financial experts play a critical role in wrongful termination cases and other types of employment litigation — particularly in estimating lost earnings. Such calculations tend to be complicated because experts must account for everything from earnings to retirement plan benefits to group insurance rates. This article describes how an expert determines an employee’s base earnings and then factors in benefits and perks.
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Artificial intelligence gives fraud detection a boost
July / August 2013
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 439
Abstract: This article examines one of the hottest new fraud-detection tools: the use of artificial intelligence to complement investigators’ efforts. It discusses the technology’s flexibility and adaptability, highlighting three types of artificial intelligence that have been used to detect fraud: neural networks, genetic algorithms and fuzzy logic.
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Owner compensation: Deciding what’s reasonable
July / August 2013
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 939
Abstract: If the IRS deems a shareholder’s compensation unreasonably high for the services rendered, the excessive compensation could be treated as a constructive dividend. So the compensation would be disallowed as a salary deduction. However, as a recent Tax Court decision shows, the “reasonable compensation” evaluation isn’t always as straightforward as it might seem. This article discusses the case, noting the factors that determine reasonable compensation. A sidebar discusses other issues the case addressed.
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Weight vs. admissibility – Court allows lost profits expert testimony
May / June 2013
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 508
Abstract: When an opposing party in a lawsuit challenges the admissibility of an expert’s testimony, the matter often comes down to one of two interpretations: whether the court believes the party’s arguments go to the admissibility or to the weight of the evidence. This article examines a federal district court ruling that illustrates such determinations and highlights the need to present relevant expert testimony.
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How accurate are corporate earnings reports?
May / June 2013
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 515
Abstract: This article reviews a recent academic research report that provides valuable insight into earnings manipulations. Such manipulations potentially could affect damages calculations and other legal matters. The report explains what constitutes high-quality earnings and notes red flags that can help detect earnings misrepresentations.
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When one employee holds the key to business value
May / June 2013
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 639
Abstract: A company’s earnings and cash flows can suffer significantly when an executive or other critical employee leaves. To account for this risk, professional valuators may apply a key-person discount. These discounts don’t apply to all business appraisals and they’re rarely one-size-fits-all. This article discusses several questions valuators ask that are specific to the subject company and its key employees.
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IRS victory highlights the importance of careful estate planning
May / June 2013
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 812
Abstract: This article discusses a recent case in which the IRS attacked a family limited partnership (FLP) for being an invalid partnership under state law. The IRS lost that argument. Ultimately, however, it was the decedent’s estate planning that undermined the FLP, thus handing the IRS another win in its long-running campaign against FLPs. A sidebar notes that the estate did prevail on whether some cash transfers that the FLP made were loans or gifts for federal gift tax purposes.