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 ...

Liabilities are what’s owed by an individual or a company. They are—in accounting terms—a company’s present obligations, originating from past transactions, through which economic benefits are ...

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 ...