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 ...

The Financial Accounting Standards Board took up the controversial question of disclosure requirements for loss contingencies at its latest meeting and decided that companies need to make more ...

The Financial Accounting Standards Board has decided to discontinue its loss contingencies disclosure project after it met with nearly unanimous opposition in the comment letters received by the board ...

The SEC appears to be increasing its scrutiny of compliance with financial statement disclosure rules regarding potential court losses. The heightened attention is intersecting with a ...

Caroline Banton has 6+ years of experience as a writer of business and finance articles. She also writes biographies for Story Terrace. A contingent liability is a potential obligation that hinges on ...