This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

A Roadmap to Accounting for Contingencies and Loss Recoveries

Published on: 06 Nov 2019

This Roadmap provides Deloitte’s insights into and interpretations of the accounting guidance in ASC 450 on loss contingencies, gain contingencies, and loss recoveries. The goal of this publication is to assist entities in understanding and applying ASC 450.

In addition to summarizing the accounting framework in ASC 450 and providing an in-depth discussion of key concepts, the Roadmap includes examples to illustrate how these concepts may be applied in practice. This publication reflects guidance that is effective for public business entities for annual reporting periods beginning on or after January 1, 2019, including ASC 606 and ASC 842 related to revenue and leases, respectively. We have specifically highlighted sections of the Roadmap that will be affected by an entity’s adoption of FASB Accounting Standards Update 2016-13, which addresses credit losses.

Download

Related Topics

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.