Why would they prefer not to disclose contingent assets, Financial Accounting

+44 141 628 6080
[email protected]

Why would they prefer not to disclose contingent assets

Problem

Method two: Do not include contingent assets and contingent liabilities in the financial statements. However, disclose details of the contingent assets and contingent liabilities in the notes to the financial statements.

• If a company were to adopt method two, why would they prefer not to disclose contingent assets and liabilities in the financial statements? Provide at least two reasons to support your answer.

View Complete Question

Request for Solution File

Ask an Expert for Answer!!

Financial Accounting: Why would they prefer not to disclose contingent assets

Reference No:- TGS03224476

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Financial Accounting

Q : Explain how the referrals will prevent recidivism

Identify and prioritize at least three referrals you would make for Chuck. discuss how you would include Chuck in the referral process.

Q : Identify when the guidance would be important for a company

Identify when this guidance would be important for a company. Determine in what situations a reasonable estimate of returns would be difficult to make.

Q : Discuss the factors that lead to a valuation of macys worth

Discuss the factors that lead to a valuation of a Macy's worth compared to that of the financial statements and how company executives create the most value for

Q : How a coach may use technology in order to provide athletes

Could you provide an example indicating how a coach may use technology in order to provide athletes with encouragement to continue mental

Q : Why would they prefer not to disclose contingent assets

If a company were to adopt method two, why would they prefer not to disclose contingent assets and liabilities in the financial statements?

Q : Summarize the opportunities and threats of a company

Summarize the opportunities and threats of a Company not only implementing Cloud services in accounting, but also the future monitoring and other opportunities.

Q : Explain how opportunity relates to cost principles

Explain how opportunity relates to cost principles. Discuss the role of financial analysis in dealing with health care reform mandates.

Q : Sketch a medial view of the human brain

Assignment Task: Sketch a medial (mid-sagital) view of the human brain. Clearly (AND CORRECTLY) label at least 10 different parts.

Q : What form would you recommend and why

For the scenario above, what form would you recommend and why? In answering this question, discuss the liability issues of your choice.

1948461

Questions
Asked

3,689

Active Tutors

1430386

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Asked Questions

What are common methods of brand equity measurement

Brand equity can be measured in a number of ways, but the 3 most common methods are which of the following? Select all that apply.

What is the purpose of the cash flow statement

Q1. What is the purpose of the cash flow statement? What does it tell the user about the company?

What is allied industries receivable collection period

What is Allied Industries' receivable collection period (rounded to the nearest day)? 156 O 590 300 O 150

Find unit product cost under absorption costing

Neef Corporation has provided the following data for its two most recent years of operation: Selling price per unit $ 84 Manufacturing costs

Describe factors that increase the probability of fraud

Use. You. Own. Words. 1. List, and briefly describe, the three main factors that increase the probability of fraud

What is the quick ratio for picasso paint supply

It also has $50,000 in current liabilities and $75,000 in long-term liabilities. What is the quick ratio for Picasso's Paint Supply?

What did the bipartisan campaign reform act

What did the Bipartisan Campaign Reform Act of 2002 do? a. prohibited special interest groups from making