A common form of cookie jar accounting is to "recognize" or state a liability when the company in fact has not incurred a liability. For example, company executives may say they plan to reorganize ...

Example of a Counseling Liability There are many ways in which counseling liabilities can arise. For example, a family therapist might suspect that a child is living in an abusive household.

Understanding Aggregate Limit of Liability The general aggregate limit is spelled out in the insurance contract and caps the number of covered losses for which an insurer will pay. The aggregate ...

Non-recognition of interest liability on expectation of a loan going NPA by lender is violation of accounting norms, according to National Financial Reporting Authority ...

Christine Gimbar, Bowe Hansen, Michael E. Ozlanski, The Effects of Critical Audit Matter Paragraphs and Accounting Standard Precision on Auditor Liability, The Accounting Review, Vol. 91, No. 6 ...