A contingent liability is a potential cost a company may or may not incur in the future. A contingent liability could be a guarantee on a debt to another entity, a lawsuit, a government probe, or even ...
Accruing a likely contingent liability is part of responsible earnings management. Although you aren't likely to find the term "earnings management" in an accounting dictionary, the American Institute ...
A prior article of this column addressed the going concern qualification in financial statements regarding the need to evaluate whether there is a substantial doubt about the entity’s ability to ...
A CORPORATION THAT IS SOLD OR RESTRUCTURED faces significant uncertainty about how the government will tax contingent liabilities such as environmental, tort and similar obligations. This is ...
Contingent liabilities were the sacred item three years ago and it is only recently that they have become public when they were published first time in an official document, the Economic Survey of ...
In accounting, contingencies are events that take place in the current accounting period, but are not resolved until later. This requires small business owner to estimate the outcome of these events ...
Accounting practices in the U.S. have improved over the years, but there are still plenty of ways that companies can manipulate their financial results. And not just in the usual ways--the balance ...
Contingent liabilities were the sacred item three years ago and it is only recently that they have become public when they were published first time in an official document, the Economic Survey of ...
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