Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1. Find a personal injury, wrongful death, or survival action case; 2. Summarize the facts of the case - i.e. what happened? 3. What did
1. Find a personal injury, wrongful death, or survival action case; 2. Summarize the facts of the case - i.e. what happened? 3. What did the accountant/lawyer compute in damages? Please discuss the types of losses/damages - i.e. Loss of earnings, loss of employment benefits, medical costs, life care costs, etc. 4. How did the accountant/lawyer compute the damages/losses? In other words, how did they derive the final number(s)? What method did they use? If you cannot readily determine how the numbers were computed, then use your chapter material and describe how you would determine the numbers/losss. 5. in #3 above, what (if any) were the damages award for life care costs or lost non market services? If you cannot readily determine if any awarded, what would you indicate should have been awarded? Perhaps the case you pick is a disability/personal injury case - there will be future costs associated with care. 6. For purposes of your understanding, what guides might have been used in the case above from the AICPA Forensic and Valuation Services Section? You may use practice aids, special reports, or other publications. The objective of this question is to you in identifying the professional standards and guidance. 1. Find a personal injury, wrongful death, or survival action case; 2. Summarize the facts of the case - i.e. what happened? 3. What did the accountant/lawyer compute in damages? Please discuss the types of losses/damages - i.e. Loss of earnings, loss of employment benefits, medical costs, life care costs, etc. 4. How did the accountant/lawyer compute the damages/losses? In other words, how did they derive the final number(s)? What method did they use? If you cannot readily determine how the numbers were computed, then use your chapter material and describe how you would determine the numbers/losss. 5. in #3 above, what (if any) were the damages award for life care costs or lost non market services? If you cannot readily determine if any awarded, what would you indicate should have been awarded? Perhaps the case you pick is a disability/personal injury case - there will be future costs associated with care. 6. For purposes of your understanding, what guides might have been used in the case above from the AICPA Forensic and Valuation Services Section? You may use practice aids, special reports, or other publications. The objective of this question is to you in identifying the professional standards and guidance
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started