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 ...

Many taxpayers have been able to reduce their taxes in transactions involving contingent liabilities, leading Congress to change subchapter C and the Treasury Department to change the regulations ...

lthough in the past the government won a number of important victories in its ongoing attempt to stop abusive tax transactions, it has continued to lose on contingent liability transactions. Recently, ...

GAD has been announced as a key partner to help establish the new Contingent Liability Central Capability function for government. The Government Actuary's Department (GAD) has been selected as a key ...

In International Painters and Allied Trades Industry Pension Fund v. Florida Glass of Tampa Bay, Inc., 2026 WL 191344 (4th Cir. Jan. 26, 2026, No. 25-1312), the Fourth Circuit held that the ...

Loss contingency refers to possible but uncertain losses facing your small business. If someone sues you, you can incorporate the potential damages if you lose as a loss contingency on your financial ...

The Tribunal held that wage arrears arising from pay revision constitute an accrued liability from the effective date. The provision was allowed despite later payment and ...