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 expense that is not certain to occur in the future, and a company must satisfy a particular set of conditions before realizing the liability. Generally accepted ...

For mergers & acquisitions professionals — and more so for their auditors — adding contingent consideration to a deal can be like replacing your injured star quarterback at the two-minute mark: It ...

Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. Creative accounting can be spotted by analyzing a ...

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 ...

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 ...