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 ...

It often is difficult to determine the existence of a contingent liability. Even when the potential liability is known, it’s not easy to correctly value it. Failure to properly consider the tax impact ...

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 ...

ISLAMABAD, June 4: Contingent liabilities (both explicit and implicit) have increased by 25 per cent to Rs95 billion during the current fiscal year from Rs75.9 billion last year, reveals Economic ...

The ability to claim a deduction of contingent liabilities in the context of the disposal of a business or assets has recently been considered in a number of instances. In the case of Ackermans ...

ISLAMABAD, June 5: Pakistan’s explicit and implicit contingent liabilities are projected to cross Rs75 billion during the year 2003-04 that could pose a budgetary gap of 1.34 per cent of GDP. This ...

OP3 International Pte Ltd v Foo Kian Beng [2022] SGHC 225 is a good illustration of the approach taken by the court in considering directors’ duties when a company is in a financially parlous ...

When a disaster occurs, a country's financial obligations are triggered to repair the damage that has occurred. These obligations are called contingent liabilities. To understand more about the ...