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    Contingencies and Financial Statements

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    Do the current accounting rules regarding the booking of and disclosures about contingencies provide enough information for people using financial statement?

    © BrainMass Inc. brainmass.com June 3, 2020, 8:00 pm ad1c9bdddf
    https://brainmass.com/business/financial-statements/contingencies-financial-statements-120554

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    Contingencies are not appropriately disclosed on the financial statements of the company. This is partly because of the amount of uncertainties associated with contingencies. Thus a lot of management discretion is involved in their disclosure.

    There are two basic types of contingencies - a ...

    Solution Summary

    The solution evaluates the reporting of contingencies in financial statements.

    $2.19

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