Home  Journals  International Accounting  37(235) - 2012 October

Risk prediction consequences contingencies - calculation and disclosure in financial statements

Available online: 10 October 2012

Subject Heading: REFORM OF REPORTING

JEL Classification: 

Reflection in the reporting of the conditional facts, on the one hand, leads to decrease in probability of acceptance by users of inadequate economic decisions; on the other hand, these objects are always connected with uncertainty which is a risk source. As a rule, the risk is caused by subjectivity of a registration assessment of the conditional facts therefore for increase of reliability of information on the conditional facts, provided to users, follows in explanations to the accounting reporting to describe a way of an assessment of the conditional fact with the instruction on the risk connected with definition of a registration assessment, and disclose the method of calculating risk forecast of consequences of conditional facts.

Keywords: contingencies, impact of contingencies, evaluation of contingencies, risk of forecast impact of contingent fact, financial statements

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ISSN 2311-9381 (Online)
ISSN 2073-5081 (Print)

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