Economic Damage Calculations
Shilts CPA is here to assist attorneys, individuals, businesses, insurance companies, and government agencies with sound, defensible economic damage assessments. It is essential to work with an expert, who has the training, experience, and judgment to prepare expert reports on various business and individual damage matters related to lawsuits, insurance claims, and other legal settings. We deliver analytical clarity for a broad range of disputes in which financial data and modeling are crucial. This includes accounting, financial, and valuation expertise while effectively and objectively communicating the findings to the client throughout a project. Whether serving as consulting or testifying experts, we support law firms, individuals, businesses, and government agencies by deciphering, interpreting, and explaining relevant accounting and financial data—including qualitative characteristics—to produce reliable and valuable outcomes.
Economic Damage Calculation Services Include:
Shilts CPA offers a full line of services specifically geared towards individuals who have experienced economic harm. Economic harm is measured by determining lost profits or earnings. Personal damages engagements generally relate to the calculation of lost income due to the loss of employment. This may result from medical malpractice, an automobile accident, a workplace injury, wrongful death, or wrongful termination of employment.
Shilts CPA offers a full line of services specifically geared towards businesses who have experienced economic harm. Economic harm is measured by determining lost profits or earnings. Business damages engagements generally relate to the calculation the value of financial harm associated with diverse types of commercial and civil lawsuits we deliver analytical clarity for a broad range of disputes in which financial data and modeling are crucial. This includes accounting, financial, and valuation expertise while effectively and objectively communicating the findings to the client throughout a project.
Unfortunately, disasters such as pandemics, tornados, hurricanes, and floods are a part of life. When they do happen they not only affect us, but our businesses as well. Fortunately, there is “business interruption” insurance coverage. It works to help businesses who experience a catastrophic or "common" incident, beyond their control, which ceases business functions. When a business interruption loss occurs, it may trigger your business interruption insurance coverage. The problem is that these types of claims can be difficult because they are based on predicting future profits. That is where a forensic accountant comes in to play. Our professionals will review historical performance, loss estimates, identify the financial impact directly related to the event, review extra expenses, examine reported value and co-insurance compliance and perform market and competitor analyses.