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 ...

In accounting terms, a liability is an amount that you owe a creditor. Liabilities generally fall into two categories -- current and long-term. Current liabilities include debts you owe that you ...

Contingent liabilities – particularly those tied to litigation, regulatory exposure, or environmental matters – are among the most consistently underestimated threats in corporate finance. When ...

NO COMPANY accounts should ever be taken for granted without reading the footnotes. And few footnotes are more important than Contingent Liabilities, supposed to reveal any skeletons which might turn ...