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Information Deficiencies in the Reporting of Litigation Loss Contingencies
Author(s) -
Park David,
Dagwell Ron
Publication year - 1996
Publication title -
australian accounting review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.551
H-Index - 36
eISSN - 1835-2561
pISSN - 1035-6908
DOI - 10.1111/j.1835-2561.1996.tb00008.x
Subject(s) - accrual , accounting , business , actuarial science , earnings
Accounting standards dealing with contingent losses often emphasise quantification and accrual of the losses under certain conditions. Where litigation loss contingencies are involved, this emphasis is at the expense of providing guidelines for the reporting of the uncertainties surrounding these events. This paper examines the uncertainty surrounding litigation loss contingencies and the need for more articulate guidelines for their reporting.