Contingent liability

  • Creator
  • #3303841

    Having a bit of trouble with an AUD question.

    I understand that you are to accrue and disclose if both probable and estimable; however, what if a range of lets say $100K to $200K (probable and estimable) is given. What do you accrue, if any?


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  • Author
  • #3303844

    Look at this example. The wording of the question matters.

    Contingent Liability “Becker CPA Review FAR”

    AUD - 93
    BEC - 82
    FAR - 76
    REG - 88
    How have you been?
    Ninja book and MCQs and the forum, all first try! 2016
    Licensed State of Montana April Fool’s Day 2020
    State of Colorado June 2020 - AICPA Ethics 93
    Experience was the worst part of the journey for me. You?
    If you want things to change you have to do something different.

    FAR 7/25/15 76!
    AUD 10/30/15 93
    BEC 2/27/16 82
    REG 5/23/16 88!
    Ninja Book and MCQ and the forum - all the way!!!
    and a little thing i like to call, time and effort!
    if you want things to change, you have to do something different

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