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Familiarize with methodologies and approaches. In order to survive a challenge to the admissibility of an expert opinion, CPAs who provide expert witness services need to be familiar with the methodologies and approaches typically employed in the analysis and quantification of economic damages. There is a robust body of case law that has been developed by the courts in the United States that directly addresses issues relevant to the quantification of damages.
The AICPA Forensic & Valuation Services section has issued three new practice aids that address methodological and case law issues:
• Calculating Lost Profits
• Calculating Intellectual Property Infringement Damages
• Reasonable Certainty in Economic Damages Calculations – Revenues, Costs and Best Evidence.
This webcast introduces the concepts covered in each of the practice aids. You’ll gain knowledge about the accepted approaches and methodologies used to quantify economic damages, like lost profits, and the conclusions reached by the courts on issues central to damage analyses.
• Methods and approaches to quantifying lost profits and other economic damages
• New developments in the case law surrounding intellectual property infringement damages
• Case law overview surrounding challenges to expert testimony on key components of an economic damages calculation.
• Apply the basic methods and approaches to quantifying lost profits.
• Identify the key issues that are relevant to quantifying damages in intellectual property disputes.
• Recognize where the courts have come down on selected issues central to the analysis of economic damages.
Designed For: CPAs and other qualified professionals who perform damage analyses and provide expert witness testimony in litigation matters
Instructor: David Duffus
CPE Credits: 3.5
Area of Study: Accounting 3.5
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