[1] It is an action taken against a defendant to recover the profits taken as a result of the breach of duty, in order to prevent unjust enrichment.
This can be rather complex in practice, because the defendant's accounting records must be examined (sometimes by a forensic accountant) to determine what portion of his gross profits were derived to the wrongful act in question.
[2] As a result, mathematical exactness is not called for and reasonable approximation is acceptable.
[4] Co-owners in concurrent estates also have the right to an accounting of profits, in order to properly apportion income from the use or leasing of the property.
[5] Case law has shown roughly two approaches to assessing the extent of an account of profits:[6]