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Guidance for Balboa Commercial Damages Case Study
As a forensic accounting expert, you are preparing an independent analysis of damages. You have obtained financial statements for Balboa Security Systems, Inc. for the last five years for use in your analysis. Your report should be addressed to Balboa’s attorney, Laurel Zander, Esq. of Vickers, Bolt, and Zander Law at 2315 1st Ave., Suite 1120, San Diego, CA 92101, and you should be prepared to testify in court should the need arise. Your report should include, but is not limited to, a brief summary of the background of the case and an analysis of damages, including details over the following areas:
• Lost profits (including loss of reputation)
• Warranty costs
• Advertising costs
• Inventory losses
Based on a review of Balboa’s financial situation and current economic conditions, a 7% interest rate is appropriate for pre-trial damages. For post-trial damages, assessment of the Company indicates an 8% discount rate to be appropriate.
Trial Date: November 2, 2015
Attorney Name and Address:
Laurel Zander, Esq.
Vickers, Bolt and Zander Law
2315 1st Ave., Ste. 1120
San Diego, CA 92101
DISCUSSION QUESTIONS
In addition to your independent analysis as forensic accounting expert, provide responses to the following (in an Appendix to your report):
1. Discuss the qualifications expert witnesses on such cases will likely possess. What types of challenges might the expert witness face related to questions from the opposing counsel on their qualifications?
2. What ethical dilemmas could you face as an expert witness in a commercial damages case? Compare and contrast these potential dilemmas with those ethical dilemmas an attorney might face.
3. Discuss the approaches available to the expert witness in calculating damages, including in which situations each approach would be most appropriate.
4. Discuss the factors relevant to measuring commercial damage losses in this case.
5. What other accounting issues, besides those listed above, could potentially be relevant in cases like Balboa Security v. M&M Systems?
6. As defendant, what potential approaches could M&M Systems utilize to minimize potential damages in their defenses from Balboa Security? What defenses might M&M assert against your analysis? How would you refute these?
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