Economic Damages Quantification
Economic damages usually involve loss of profits, loss of wages and earnings (past and future), loss of future earning capacity, damage to real and personal property and loss of value. Economic damage quantification is the measurement of these damages, which often result from a harmful act. There are many events that can result in economic damages for an individual or business, for example, damages caused to the environment, catastrophes such as 9/11, fraud, personal injury or wrongful death or other economic factors.
In quantifying a disputed amount or a financial loss, we question the underlying assumptions, identify the relevant issues and thoroughly examine the details. Our depth and breadth of industry experience and commercial acumen enable us to really understand whether the numbers make sense and will stand up under the toughest scrutiny.
Who Performs an Economic Damage Quantification?
For many years, insurance companies, lawyers, adjusters, government agencies and businesses have turned to forensic accounting firms such as ours to assist with economic damage quantification.
Forensic accountants have the professional training, experience and expertise to perform the assessments and calculations, no matter how challenging they might be.
The experts at Forensic Accounting Corp. are able to quantify economic losses across a wide range of areas, including insurance claims, fraud and embezzlement, personal injury, business disputes, business interruption, divorce and marital disputes, construction defects, environmental damages, cybercrime, product liability, patent and copyright infringement and more.
How are Economic Damages Quantified?
Forensic accountants use the latest statistical and econometric tools, publications and opinions from industry leaders to arrive at fair and reasonable calculations of loss and damage.There are several approaches usd to quantify economic damages:
*Before and After Method
How We Can Help
What Sets Us Apart
Solutions You Can Depend On
A strong business plan requires going beyond intuition and experience, and supporting your idea with fact-based market research. Investors need to have confidence in your understanding of the market, so don’t let yourself down by skimping on research. We have access to fee-based, subscriber-only resources such as:
Quantifying economic damage requires specialized skills, expertise and a wealth of experience and knowledge.
Our forensic accounting professionals are exceptionally dedicated and qualified experts with proven track records who provide economic damage assessments that stand up to scrutiny.