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 ...

Certain questions seem to recur when it comes to outside counsel’s communications with a company’s auditors about potential exposures as a result of litigation or regulatory/enforcement matters and ...

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 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 ...

A contingency clause in real estate specifies conditions that must be met for a contract's validity. Learn how these clauses protect buyers and sellers.

New Brunswick’s Auditor General has indicated her department’s report won’t include the government’s contingency fund — a reserve account now listed at $80 million — and that the use of such a fund ...

The Difference Between Principles & Rules Based Accounting Standards. Unethical accounting practices enabled companies like Enron and WorldCom to bilk investors out of huge sums of money. In... GAAP ...