Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
This chapter provides clear explanations and practical examples for real‐world application of ASC 450, Contingencies. It includes relevant sources of GAAP and expert guidance on interpretation, terminology, relevant concepts, and applicable rules, while in‐depth discussion on the issues surrounding specific pronouncements offers informative perspective for a variety of scenarios. ASC 450 contains guidance for reporting and disclosure of gain and loss contingencies and has three subtopics: ASC 450‐10, Overall; ASC 450‐20, Loss Contingencies; and ASC 450‐30, Gain Contingencies. ASC 450 defines a contingency as an existing condition, situation, or set of circumstances involving uncertainty as to possible gain or loss and that will result in the acquisition of an asset, the reduction of a liability, the loss or impairment of an asset, or the incurrence of a liability. The uncertainty will ultimately be resolved when one or more future events occur or fail to occur.
This chapter provides clear explanations and practical examples for real‐world application of ASC 450, Contingencies. It includes relevant sources of GAAP and expert guidance on interpretation, terminology, relevant concepts, and applicable rules, while in‐depth discussion on the issues surrounding specific pronouncements offers informative perspective for a variety of scenarios. ASC 450 contains guidance for reporting and disclosure of gain and loss contingencies and has three subtopics: ASC 450‐10, Overall; ASC 450‐20, Loss Contingencies; and ASC 450‐30, Gain Contingencies. ASC 450 defines a contingency as an existing condition, situation, or set of circumstances involving uncertainty as to possible gain or loss and that will result in the acquisition of an asset, the reduction of a liability, the loss or impairment of an asset, or the incurrence of a liability. The uncertainty will ultimately be resolved when one or more future events occur or fail to occur.
ASC 450 Contingencies
Flood, Joanne M (Autor:in)
Wiley <fc>GAAP</fc> 2019 ; 499-506
19.03.2019
8 pages
Aufsatz/Kapitel (Buch)
Elektronische Ressource
Englisch
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