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Assessment of Accounting Procedures for Compensation of Shareholders of a Refined Petroleum Products Trader

Accumyn’s expert provided testimony regarding economic damages resulting from a shareholder dispute involving a closely held corporation which trades in refined petroleum products.   Accumyn’s expert also critiqued the opposing business valuation and economic damages analysis and provided an assessment of the accounting procedures and methods by which shareholders receive compensation. Accumyn considered working capital on the entity’s financial statement and the proper accounting treatment of shareholder notes as either liabilities or equity in accordance with generally accepted accounting principles, reporting the economic substance of the notes rather than their legal form.