Join Richard Holstrom and Aaron Esquivel of RGL Forensics as they provide an overview of calculating damages in litigation. The main areas discussed include forensic accounting, understanding lost profits, understanding earnings losses and discounting damages. The main types of cases highlighted include general business disputes, personal injury cases and wrongful termination and death cases.
Further topics addressed include the role of forensic accounting in litigation support, the legal principles of lost profits, the tools used for calculating lost profits, lost earnings calculations, proximate cause, reasonable certainty, foreseeability, damage calculation tools, using empirical data, elements of a lost profits claim, methods of proof, the before and after method, the but-for method, the yardstick method, the “big box of money,” lost sales, lost earning analysis, life v. worklife expectancy, but for & current earnings, past vs. future loses, economic loss models, fringe benefits, medical & rehabilitation costs, household services defined, income taxes, discount rate, offsets, wage growth, net discount rate, offset earnings, personal consumption, wrongful death and loss of business value.
Mr. Holstrom has been involved in the field of Forensic Accounting exclusively since 1980. He has worked extensively with insurance companies and attorneys focusing his career on forensic accounting, measurement of damages and litigation support. Mr. Esquivel has over nine years exclusively in the field of forensic accounting with significant experience performing analyses involving the measurement of losses due to business interruption, fraud, property damage and other matters involving economic damages.