A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
This chapter provides clear explanations and practical examples for real‐world application of ASC 405, Liabilities. 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 405 consists of four subtopics: ASC 405‐10, Overall; ASC 405‐20, Extinguishments of Liabilities; ASC 405‐30, Insurance‐Related Assessments; and ASC 405‐40, Obligations Resulting from Joint and Several Liabilities. ASC 405 provides accounting and reporting guidance related to short‐term liabilities and certain guidance that may apply broadly to any liability. Although measurement of liabilities is generally straightforward, some liabilities are difficult to measure because of uncertainties. Uncertainties can impact whether, when, and for how much an obligation will be recognized in the financial statements.
This chapter provides clear explanations and practical examples for real‐world application of ASC 405, Liabilities. 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 405 consists of four subtopics: ASC 405‐10, Overall; ASC 405‐20, Extinguishments of Liabilities; ASC 405‐30, Insurance‐Related Assessments; and ASC 405‐40, Obligations Resulting from Joint and Several Liabilities. ASC 405 provides accounting and reporting guidance related to short‐term liabilities and certain guidance that may apply broadly to any liability. Although measurement of liabilities is generally straightforward, some liabilities are difficult to measure because of uncertainties. Uncertainties can impact whether, when, and for how much an obligation will be recognized in the financial statements.
ASC 405 Liabilities
Flood, Joanne M (author)
Wiley <fc>GAAP</fc> 2019 ; 465-469
2019-03-19
5 pages
Article/Chapter (Book)
Electronic Resource
English
| Wiley | 2021
Contracting Entity Liabilities
| Wiley | 1974
| Wiley | 2018
| Wiley | 2015