Commercial Litigation

Damages Considerations In Complex Litigation – CLE Session

Thumbnail image for Damages Considerations In Complex Litigation – CLE Session by Adam Giliberti 4 February 2012

Thank you for your interest in the above CLE Session. We want our attendees to get the opportunity to interact with the expert and network with fellow professionals while obtaining valuable CLE points.  Details of the CLE session are as follows: When: Wednesday, 29 February 2011. Where: Sydney Hilton Hotel (488 George Street, Sydney). Time: 1pm for 1 hour with light lunch [...]

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What You Can Measure, You Can Manage for Lawyers and Business Owners

Thumbnail image for What You Can Measure, You Can Manage for Lawyers and Business Owners by Adam Giliberti 18 January 2012

One of the difficulties I have as a business advisor is to persuade business owners to spend less time working in their business and more time working on it. This can be a scary proposition for many business owners, particularly those with deep expertise and experience in the product, market or industry they operate in as they feel that no [...]

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Signs When A Company Is In Trouble

Thumbnail image for Signs When A Company Is In Trouble by Arnold Shields 17 October 2011

Have you got a customer that is not paying it’s bills? How can you tell if a company is in financial trouble? There are a number of signs that a company is in trouble. These include: There is an increase in creditors calling for payment. This can be seen in the financial statements by examining the creditors days and seeing [...]

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Don’t Forget The Tax (Tax on Damages in Commercial Litigation)

Thumbnail image for Don’t Forget The Tax (Tax on Damages in Commercial Litigation) by Adam Giliberti 30 June 2011

Generally speaking, damages awarded for compensation for loss of profits will be taxable in the year of the receipt (note 1). In calculating those damages, income tax is deducted from the calculated losses on the assumption that the lost profits would have attracted tax (note 2). To ensure that the award for damages puts the claimant back to the position, [...]

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The Red Flags of Financial Distress

by Adam Giliberti 4 April 2011

As a forensic accountant, it is often not difficult to see when a business is in some kind of financial distress. This is usually apparent from reviewing the Financial Reports for the business. However, it is a much more difficult task to determine the point in time when a business has deteriorated from a position of financial distress to becoming [...]

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What Are Financial Reports And What Do They Reveal?

by Adam Giliberti 18 March 2011

Financial Reports are typically associated with accountants.  This term can be found in the Corporations Act (“the Act”).  Section 295 of the Act specifies that an annual Financial Report consists of: the Financial Statements; the Notes to the Financial Statements; and the Directors’ Declaration about the Financial Statements and Notes. When the Financial Reports are prepared in accordance with Australian [...]

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The Financial Reporting Framework

by Adam Giliberti 17 March 2011

In Australia, there are two basic frameworks to consider in order to determine whether a particular business is required to prepare Financial Reports and the standard to which those Financial Reports are to be prepared.  There is the legal framework and there is the accounting framework and the table below highlights the key features of each. Legal Accounting  ASX Listing [...]

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