Special Issues Related to Changes in Accounting Principles, Changes in Estimates, and Error Corrections
In an evolving economic atmosphere, reporting entities often find it advantageous, and sometimes necessary, to change or correct their accounting.
Published on March 14, 2012
Accounting for Contingencies
Contingencies are existing uncertainties that may have financial impact, depending on future events. Loss contingencies are those that may result in the incurrence of a liability or the impairment of an asset. Gain contingencies are those that may result in the acquisition of an asset or reduction of a liability.
Published on January 07, 2009
Understanding Going Concern
FASB ASU 2010-20 updates ASC 310 to incorporate required additional robust and disaggregated disclosures about the credit quality of financing receivables and the allowance for credit losses.
Published on August 04, 2010
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