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 ...

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 ...

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 ...

A liability is a financial obligation or debt owed. Liabilities are key elements on every company’s balance sheet, and therefore, important to stock and bond investors. Learn more. In finance and ...