Preventing Case Over Valuation: Why Attorneys Tend to Overvalue Their Cases and What to Do!

Research indicates that most lawyers over value their cases, and what is even more fascinating, it does not matter how long the attorney has been in practice!  There are a number of reasons over valuation occurs; sometimes the answer is just that the attorney did not spend enough time reviewing the case, or failed to consider getting a second opinion.  Then there are significant psychological factors that influence case valuation: anchoring, confirmation bias, and just plain old over confidence.  The good news is there are some very simple steps that one can take to prevent making a significant mistake.  This article discusses the research and steps parties can take to avoid overvaluing a case.

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Business Valuation and Reporting in Matrimonial Disputes: Adherence to Development and Reporting Standards in Family Law Litigation

Family law practitioners deal with a host of complexities when resolving matrimonial disputes.  In high net worth cases, financial considerations soon become paramount.  Often the largest financial asset on the marital balance sheet is an interest in a closely held business controlled and operated by the family or single spouse.  In these cases, a significant portion of the marital estate and, accordingly, the key to a party’s financial future rests on the results of a proper valuation.  This article discusses the importance of development and reporting standards in litigation engagements.

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Managing Professional Liability Litigation Against Accounting Firms

This is Part I of a three-part series discussing the basic components of a professional liability lawsuit brought against an accounting firm and its partners; and the factors a firm's managing partner should consider before and during this type of litigation for utilizing applicable insurance coverage, maximizing effectiveness of defense and, where possible, bringing the controversy to conclusion by settlement. Part I focuses on the current litigation environment for accounting firms, relevant provisions in engagement letters, responding to subpoenas, professional liability insurance, and the risk of instigating a professional liability counterclaim in a fee-collection action.

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The New Revenue Recognition Standard: A Principle-Based Model Revenue Recognition

Wiley author Joanne Flood looks at how the converged revenue standard affects companies reporting under U.S. GAAP.

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