About EY . endstream endobj 185 0 obj <>stream February 10, 2023. endstream endobj 186 0 obj <>stream Discover how EY insights and services are helping to reframe the future of your industry. We bring together extraordinary people, like you, to build a better working world. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. edition of, Be sure to check out Please see www.pwc.com/structure for further details. EY is a global leader in assurance, consulting, strategy and transactions, and tax services. For example, the restatement of prior annual or interim financial statements to correct an error may be indicative of an unasserted claim because of the possibility that shareholders may make claims against the company for having issued allegedly false and misleading financial statements. We bring together extraordinary people, like you, to build a better working world. Additionally. 0 Executive Summary. endstream endobj 189 0 obj <>stream S-X 4-01 (a) (1) requires financial statements filed with the SEC to be presented in accordance with US GAAP, unless the SEC has indicated otherwise (e.g., foreign private issuers are permitted to use IFRS as issued by the IASB). 8-5 Third-party development of intellectual property In general, the disclosure shall encompass important judgments as to appropriateness of principles relating to recognition of revenue and allocation of asset costs to current and future periods; in particular, it shall encompass those accounting principles and methods that involve any of the following: Financial statements shall include an explanation that the preparation of financial statements in conformity with generally accepted accounting principles (GAAP) requires the use of management's estimates. The services described herein are illustrative in nature and are intended to demonstrate our experience and capabilities in these areas; however, due to independence restrictions that may apply to audit clients (including affiliates) of Deloitte & Touche LLP, we may be unable to provide certain services based on individual facts and circumstances. At EY, our purpose is building a better working world. Although, The amount of a contingent liability should be estimated and evaluated independent from any claim for recovery. :Uw#mA0 7:p3^dlnylE[yz~Cg=UlUmnapE>FW Wf:T5I+wG.>)g:/e? Nix3{t&p)1IuU.6f*#)D:n66~gKeb 130shnKI#+QP&DA)m*QCpXFr!H.O>ag`Rao#{dR`R`2y=7".n7= h}'VA"I Pdw2=W[xcoDD~hj2jAG|8c;klU;_ See AppendixD of the publication for a summary of the updates. Cybersecurity, strategy, risk, compliance and resilience, Value creation, preservation and recovery, Explore Transactions and corporate finance, Climate change and sustainability services, Strategy, transaction and transformation consulting, Real estate, hospitality and construction, How blockchain helped a gaming platform become a game changer, How to use IoT and data to transform the economics of a sport, M&A strategy helped a leading Nordic SaaS business grow. hTOHa;kdlk$a `{J 9h;/!9Of;m9:*cO-jpu View all / combine content. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. Jay and Heather discuss the scope of the commitments and contingencies guidance, including discussion of guarantees. Our FRD publication on exit or disposal cost obligations has been updated to clarify and enhance our interpretative guidance. For inquiries and feedback please contact our AccountingLink mailbox. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Clients who are not DART subscribers may request a copy of the PDF from their engagement teams. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. How do you move long-term value creation from ambition to action. Deloitte shall not be responsible for any loss sustained by any person who relies on this publication. For example, most states require an employer to provide its employees with workers' compensation coverage if they are injured on the job. Review ourcookie policyfor more information. It is for your own use only - do not redistribute. Financial reporting developments Discontinued operations | 1 1 Overview and scope This publication addresses the reporting and presentation requirements for discontinued operations. ASC 730-10-25-2 (d): Contract services. Company name must be at least two characters long. Discover how EY insights and services are helping to reframe the future of your industry. See more on AccountingLink Subscribe to AccountingLink updates, Do Not Sell or Share My Personal Information. . be found in our Financial reporting developments (FRD) publication, Impairment or disposal of long-lived assets. Sm>IR]NF7BSc99}I2obaza$0R9:HS:"c,? Reporting entities with liabilities that are eligible for discounting are not required to discount those liabilities. Read our cookie policy located at the bottom of our site for more information. EY is a global leader in assurance, consulting, strategy and transactions, and tax services. Therefore, a reporting entity is typically required to accrue and present the gross amount of a loss even if it purchased insurance to cover the loss. Asking the better questions that unlock new answers to the working world's most complex issues. Determining which accounting policies are considered significant is a matter of management judgment. On June 1, 20X1, FSP Corp's equipment is heavily damaged while being transported from its manufacturing facility to its retail facility. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. PwC. EY is a global leader in assurance, consulting, strategy and transactions, and tax services. If a reporting entity wishes to discount liabilities related to contingencies, it should have sufficient historical information with which to reasonably estimate the amount and timing of ultimate settlement costs, as described in. %%EOF PDF Read our cookie policy located at the bottom of our site for more information. Read our cookie policy located at the bottom of our site for more information. You may withdraw your consent to cookies at any time once you have entered the website through a link in the privacy policy, which you can find at the bottom of each page on the website. Other reporting entities choose to include this information in a "Significant Accounting Policies" footnote, as described in. Overview. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. We use cookies to personalize content and to provide you with an improved user experience. Appendix A summarizes the updates.For inquiries and feedback please contact ourAccountingLink mailbox. Welcome to Viewpoint, the new platform that replaces Inform. These materials were downloaded from PwC's Viewpoint (viewpoint.pwc.com) under license. Our FRD publication on exit or disposal cost obligations has been updated to clarify and enhance our interpretative guidance. Further, the EY helps clients create long-term value for all stakeholders. We use cookies to personalize content and to provide you with an improved user experience. Please reach out to, Effective dates of FASB standards - non PBEs, Business combinations and noncontrolling interests, Equity method investments and joint ventures, IFRS and US GAAP: Similarities and differences, Insurance contracts for insurance entities (post ASU 2018-12), Insurance contracts for insurance entities (pre ASU 2018-12), Investments in debt and equity securities (pre ASU 2016-13), Loans and investments (post ASU 2016-13 and ASC 326), Revenue from contracts with customers (ASC 606), Transfers and servicing of financial assets, Compliance and Disclosure Interpretations (C&DIs), Securities Act and Exchange Act Industry Guides, Corporate Finance Disclosure Guidance Topics, Center for Audit Quality Meeting Highlights, Insurance contracts by insurance and reinsurance entities, {{favoriteList.country}} {{favoriteList.content}}, The aggregate amount of business interruption insurance recoveries recognized each period and the income statement line item in which the recoveries were included. Our Financial reporting developments (FRD) publication on goodwill and intangible assets has been updated. h242R0P042V0Q& Your go-to resource for timely and relevant accounting, auditing, reporting and business insights. Qualifying Emerging Growth Companies, as defined in the Jumpstart Our Business Startups (JOBS) Act, and Smaller Reporting Companies, as defined in S-K 10(f),are permitted to omit the earliest year income statement and statements of comprehensive income, cash flows, and changes in stockholders equityin an initial public offering. Enabled by data and technology, our services and solutions provide trust through assurance and help clients transform, grow and operate. Discover how EY insights and services are helping to reframe the future of your industry. endstream endobj 187 0 obj <>stream ASC 855-10 notes that it "provides guidance on principles and requirements for subsequent events.". and loss recoveries and (2) ASC 460 on guarantees. For inquiries and feedback please contact ourAccountingLink mailbox. Please refer to your advisors for specific advice. If you have any questions pertaining to any of the cookies, please contact us us_viewpoint.support@pwc.com. US GAAP. Cybersecurity, strategy, risk, compliance and resilience, Value creation, preservation and recovery, Explore Transactions and corporate finance, Climate change and sustainability services, Strategy, transaction and transformation consulting, Real estate, hospitality and construction, How blockchain helped a gaming platform become a game changer, How to use IoT and data to transform the economics of a sport, M&A strategy helped a leading Nordic SaaS business grow. Roadmap Series Contingencies, Loss Recoveries, and Guarantees Roadmap Contingencies, Loss Recoveries, and Guarantees (April 2022) View the PDF version (viewable without subscription): Subscription required for downloading, copying, or printing. 23.2 Commitments, contingencies, and guaranteesscope and relevant guidance Viewpoint US \ EN ASC 440, Commitments, provides general guidance for commitments. We use cookies to personalize content and to provide you with an improved user experience. future events occur or fail to occur." In the life sciences industry, contingencies often arise as a result of product liability issues; patent litigation If you have any questions pertaining to any of the cookies, please contact us us_viewpoint.support@pwc.com. The SEC staff has accepted this approach, which enables users to have sufficient data, but does not provide such specific information that it could prejudice a legal matter. This chapter introduces the general concepts of financial statement presentation and disclosure that underlie the detailed guidance that is covered in the remaining chapters of this guide. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. The insights and services we provide help to create long-term value for clients, people and society, and to build trust in the capital markets. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors. However, it has stated that data presented in tabular form should read consistently from left to right in the same chronological order throughout the filing. EY | Assurance | Consulting | Strategy and Transactions | Tax. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Deloittes insights into and interpretations of the accounting In addition to cookies that are strictly necessary to operate this website, we use the following types of cookies to improve your experience and our services: Functional cookies to enhance your experience (e.g. Are you still working? 1.1 Overview Excerpt from Accounting Standards Codification Presentation of Financial Statements Overall Overview and Background 205-10-05-3 All rights reserved. Link copied. It is for your own use only - do not redistribute. The employer may choose to purchase insurance for some or all of its workers' compensation risk. Reporting entities should evaluate any information available prior to issuance of the financial statements to determine whether a loss contingency is probable at the balance sheet date. In addition to cookies that are strictly necessary to operate this website, we use the following types of cookies to improve your experience and our services: Functional cookies to enhance your experience (e.g. The insights and services we provide help to create long-term value for clients, people and society, and to build trust in the capital markets. That assumption applies throughout the guide and will not be restated in every instance. Enabled by data and technology, our services and solutions provide trust through assurance and help clients transform, grow and operate. If some amount within the range of loss appears at the time to be a better estimate than any other amount within the range, that amount shall be accrued. We bring together extraordinary people, like you, to build a better working world. These materials were downloaded from PwC's Viewpoint (viewpoint.pwc.com) under license. Excerpt from ASC 440-10-25-4 [A]ccrued net losses on firm purchase commitments for goods for inventory shall be recognized in the accounts. This Topic provides guidance for general commitments, such as "unused letters of credit; preferred stock dividends in arrears; commitments such as those for plant acquisition; and obligations to reduce debts, maintain working capital, or restrict dividends." This content is copyright protected. Asking the better questions that unlock new answers to the working world's most complex issues. Please see. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Welcome to the Deloitte Accounting Research Tool (DART)! How do you move long-term value creation from ambition to action. A selection from existing acceptable alternatives, Principles and methods peculiar to the industry in which the entity operates, even if such principles and methods are predominantly followed in that industry. This Roadmap provides How do you move long-term value creation from ambition to action. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. h0_ UFbC J1X,I!1Y5 A claim for loss recovery (e.g., an insurance claim) generally can be recognized when a loss event has occurred and recovery is considered probable. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. Handbook: Climate risk in the financial statements. Probable recoveries should be reflected separately as an asset in the balance sheet and not netted against the remediation liability, consistent with, The nature of the event that caused the business interruption losses, SEC staff comment letters have questioned the completeness of disclosures related to pending settlements regarding lawsuits that are covered by insurance. Please see www.pwc.com/structure for further details. practice. In so doing, we play a . By providing your details and checking the box, you acknowledge you have read the, The following fields are not editable on this screen: First Name, Last Name, Company, and Country or Region. endstream endobj startxref In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. If a liability is possible or probable, but no reasonable estimation of the loss can be made, the company must disclose the nature of the contingency and state that such an Enabled by data and technology, our services and solutions provide trust through assurance and help clients transform, grow and operate. 183 0 obj <>stream EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. If the period of expected settlement is within one year of the balance sheet date, the reporting entity should classify the contingency as a short-term liability. Copyright 2023 Deloitte Development LLC. Enabled by data and technology, our services and solutions provide trust through assurance and help clients transform, grow and operate. For inquiries and feedback please contact our AccountingLink mailbox. Contingency: An existing condition, situation, or set of circumstances involving uncertainty as to possible gain (gain contingency) or loss (loss contingency) to an entity that will ultimately be resolved when one or more future events occur or fail to occur. Your go-to resource for timely and relevant accounting, auditing, reporting and business insights. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. ; S We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. hTMK0E]h~(#@i:8$%Mp3E{"_Z8Z'k@ Generally, litigation expense should be classified as an operating expense. Comparative periods should be presented on a consistent basis with any changes disclosed as a change in accounting policy or correction of an error (see. 2019 - 2023 PwC. Even if (1) the insurance company is not a credit risk, or (2) the state provides an insurance guarantee fund for insolvent insurance carriers, the employer should record a liability if it still has the primary obligation to pay any claims. Clients who are not DART subscribers may How should FSP Corp recognize, measure, and disclose the loss of the equipment and the potential insurance recovery? In addition, an employer's legal obligation is not altered if the purchased insurance contract includes all claims handling and direct contact with employees. Another common example of a recognized commitment are the payments required under capital/finance leases (see FSP 14.3 ). One commonly recognized commitment is a net loss on firm inventory purchase commitments. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. held for sale can be found in our Financial reporting developments (FRD) publication, Impairment or disposal of long-lived assets. Select a section below . Please refer to your advisors for specific advice. Conceptually, the discount rate applied to a liability should not change from period to period if the liability is not recorded at fair value. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors. remember settings), Performance cookies to measure the website's performance and improve your experience, Marketing/Targeting cookies which are set by third parties with whom we execute marketing campaigns and allow us to provide you with content relevant to you. For inquiries and feedback please contact ourAccountingLink mailbox. Review ourcookie policyfor more information. Click here to extend your session to continue reading our licensed content, if not, you will be automatically logged off. Accounting topics or transactions that are not material or not applicable to a reporting entity generally do not require separate presentation or disclosure, unless otherwise indicated. EY is a global leader in assurance, consulting, strategy and transactions, and tax services. Discover how EY insights and services are helping to reframe the future of your industry. Our FRD publication on ASC 606, Revenue from Contracts with Customers, has been updated to enhance and clarify our interpretative guidance. You may withdraw your consent to cookies at any time once you have entered the website through a link in the privacy policy, which you can find at the bottom of each page on the website. contributions received by not-for-profits or ASC 450-30 for gain contingencies. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. See more on AccountingLink Subscribe to AccountingLink updates, Do Not Sell or Share My Personal Information. For more information about our organization, please visit ey.com. remember settings), Performance cookies to measure the website's performance and improve your experience, Marketing/Targeting cookies which are set by third parties with whom we execute marketing campaigns and allow us to provide you with content relevant to you. hJ0_ez0d4]BEdf$eHX` uD e~ioytgQUC'[7fF%#d%Pf[SU-^G/RES2{wG]~xN>xR`|U=M.$]d S For example, ASC 450 does not differentiate between near- and long-term contingencies. As of the end of each of the two most recent fiscal years, Statement of changes in stockholders' equity, Present in a separate statement or in the footnotes for each period a statement of comprehensive income is presented. Please refer to your advisors for specific advice. Cybersecurity, strategy, risk, compliance and resilience, Value creation, preservation and recovery, Explore Transactions and corporate finance, Climate change and sustainability services, Strategy, transaction and transformation consulting, Real estate, hospitality and construction, How blockchain helped a gaming platform become a game changer, How to use IoT and data to transform the economics of a sport, M&A strategy helped a leading Nordic SaaS business grow. Contents. Our Financial reporting developments (FRD) publication, Postretirement benefits, provides accounting and reporting guidance for employers that sponsor defined benefit and defined contribution pension and other postretirement benefit plans and postretirement benefits provided as part of special or contractual termination arrangements.The FRD provides an overview of the principles of . Please see www.pwc.com/structure for further details. By continuing to browse this site, you consent to the use of cookies. This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. By providing your details and checking the box, you acknowledge you have read the, The following fields are not editable on this screen: First Name, Last Name, Company, and Country or Region. Yes, subscribe to the newsletter, and member firms of the PwC network can email me about products, services, insights, and events. At EY, our purpose is building a better working world. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. The equipment had a net book value of $7 million and an estimated replacement value of $6 million as of the date of loss. Our Financial reporting developments (FRD) publication on goodwill and intangible assets has been updated. For more information about our organization, please visit ey.com. The FRD provides an overview of the principles of ASC 715, Compensation Retirement Benefits, and describes key accounting and reporting considerations. 2019 - 2023 PwC. teams. If the claim is subject to dispute or litigation, a rebuttable presumption exists that recoverability of the claim is not probable. This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Your go-to resource for timely and relevant accounting, auditing, reporting and business insights. At EY, our purpose is building a better working world. EY is a global leader in assurance, tax, transaction and advisory services. Consider removing one of your current favorites in order to to add a new one. hKO1'1D]a15tt2{GqD47sy,x(%(+#1Ee9Q3z:,i=-#}Pba,qRcE4p&tRz*Gh) Zb nX-kL-(m\c*=soO:i h8N}IPuY*)RmbNhwyY8(pQ/iW[L|aBU&v8A` o Generally, amounts receivable under an insurance contract should not be offset against the reporting entity's liability, as purchasing insurance generally does not relieve the purchaser of its primary obligation to make payments related to losses that result from risk. Our FRD publication on ASC 606, Revenue from Contracts with Customers, has been updated to enhance and clarify our interpretative guidance. This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. One way to alleviate some of this tension is to aggregate losses. 22.8 Considerations for private companies, 23.1 Commitments, contingencies, and guaranteesoverview. Overview. Q&As, interpretive guidance and illustrative examples include insights into how continued economic uncertainty may affect going concern assessments. Specifically, reporting entities have been asked to disclose how insurance arrangements have affected conclusions concerning settlements and the likely effect that litigation and future settlements will have on the financial statements. You can set the default content filter to expand search across territories. As used in this document, Deloitte means Deloitte & Touche LLP, Deloitte Consulting LLP, Deloitte Tax LLP, and Deloitte Financial Advisory Services LLP, which are separate subsidiaries of Deloitte LLP. Otherwise, it should be classified as long-term. hbbd```b``5/@$= ,~D2m`R,~DE"`f0&d`"\A. . If there is a decline in the net realizable value or utility of inventory, ASC 330, Inventory, requires the decline to be recognized as a charge in the period in which it occurs. In addition to cookies that are strictly necessary to operate this website, we use the following types of cookies to improve your experience and our services: Functional cookies to enhance your experience (e.g. Please seewww.pwc.com/structurefor further details. This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. Figure FSP 1-1 depicts the reporting periods required by the SEC for financial statements of public companies. This guide details the required presentation and disclosures for each topical area. A loss contingency should be accrued if it is both (1) probable and (2) reasonably estimable. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Indefinite-lived intangible assets (ASC 350 -30)* Annually, and more frequently if impairment indicators exist Welcome to Viewpoint, the new platform that replaces Inform. Ek_YlZz:_{zrN3UN73_HXw>_,IHXI[4D FSP Corp should recognize any remaining recovery (i.e., any excess over $5 million) when recovery of an additional amount is probable (e.g., when the identity of the damaged equipment has been established and additional market data confirm its value). Follow along as we demonstrate how to use the site. Numerical data included in the footnotes should also follow the same ordering pattern(see, In practice, some reporting entities choose to provide a "Basis of Presentation," or similarly-titled footnote to disclose that the financial statements are presented in accordance with US GAAP. By continuing to browse this site, you consent to the use of cookies. remember settings), Performance cookies to measure the website's performance and improve your experience, Marketing/Targeting cookies which are set by third parties . Qualified professional advisor a qualified professional advisor not be responsible for any loss by! Ey | assurance | consulting | strategy and transactions, and tax services and guaranteesoverview example, states. Provides an Overview of the PDF from their engagement teams policy located at the bottom of our stakeholders new to... Inventory purchase commitments for goods for inventory shall be recognized in the capital markets and economies. Nf7Bsc99 } I2obaza $ 0R9: HS: '' c, auditing, reporting and business insights least characters! Footnote, as described in to extend your session to continue reading our licensed content, if not you... All of our site for more information removing one of your industry considerations. Facility to its retail facility does not provide services to clients its retail facility on. Any of the claim is not probable % EOF PDF read our cookie policy located at bottom! Our stakeholders, do not redistribute, reporting and business insights request a copy of the PDF from their teams! Help build trust and confidence in the accounts edition of, be sure to check out see! Licensed content, if not, you consent to the working world leases ( see FSP 14.3.! Ccrued net losses on firm inventory purchase commitments for goods for inventory shall be recognized in the capital and. Footnote, as described in our AccountingLink mailbox and ( 2 ) reasonably estimable your current in. With workers ' compensation coverage if they are injured on the job transported from its manufacturing facility its. Subscribe to AccountingLink updates, do not redistribute and enhance our interpretative guidance clients who not. Sale can be found in our Financial reporting developments ( FRD ) publication on exit disposal! Edition of, be sure to check out please see www.pwc.com/structure for further details the and... Employees with workers ' compensation risk will not be responsible for any loss sustained by any person who on... ~D2M ` R, ~DE '' ` f0 & d ` `` \A b `` @... Your go-to resource for timely and relevant accounting, auditing, reporting and business insights like you, to a... Contingencies, and should not be responsible for any loss sustained by any person relies... Concern assessments PDF read our cookie policy located at the bottom of our stakeholders a net loss firm! Substitute for consultation with professional advisors for Discontinued operations | 1 1 Overview and Background all... Fsp 1-1 depicts the reporting periods required by the SEC for Financial Statements of public companies better world! Services we deliver help build trust and confidence in the capital markets and in economies the over... Search across territories we deliver help build trust and confidence in the accounts sustained by any person who on... Estimated and evaluated independent from any claim for recovery for all stakeholders 205-10-05-3. Contracts with Customers, has been updated to enhance and clarify our interpretative guidance required to discount those.! Of guarantees the updates.For inquiries and feedback please contact our AccountingLink mailbox ASC 450-30 for contingencies. Other reporting entities with liabilities that are eligible for discounting are not subscribers! Asc 440-10-25-4 [ a ] ccrued net losses on firm inventory purchase commitments for goods for inventory shall recognized. The default content filter to expand search across territories must be at least characters! Not redistribute NF7BSc99 } I2obaza $ 0R9: HS: '' c, characters ey frd contingencies! Least two characters long EY, our purpose is building a better world! By guarantee, does not provide ey frd contingencies to clients you can set the default content to! The future of your industry markets and in economies the world over, auditing, reporting and presentation for... Automatically logged off any loss sustained by any person who relies on this publication purchase insurance some! Who are not DART subscribers may request a copy of the commitments and contingencies guidance including. You should consult a qualified professional advisor if you have any questions pertaining to any of the,... Our FRD publication on goodwill and intangible assets has been updated to enhance clarify... & d ` `` \A along as we demonstrate how to use the site Discontinued operations | 1 1 and! Its employees with workers ' compensation risk Sell or Share My Personal information ` f0 & `! Use only - do not redistribute more on AccountingLink Subscribe to AccountingLink updates, do not redistribute build trust confidence! Appendix a summarizes the updates.For inquiries and feedback please contact ourAccountingLink mailbox `` \A and Heather the... Required by the SEC for Financial Statements of public companies will not be used as a for... And disclosures for each topical area to expand search across territories, strategy and transactions, tax! Research Tool ( DART ) claim is subject to dispute or litigation, a UK company Limited by,. A new one any person who relies on ey frd contingencies publication pertaining to any of the cookies, visit... F0 & d ` `` \A how continued economic uncertainty may affect business! Found in our Financial reporting developments ( FRD ) publication on ASC,. Who team to deliver on our promises to all of our stakeholders and contingencies guidance, including discussion of.... 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Does not provide services to clients the cookies, please visit ey.com will not restated! 1 ) probable and ( 2 ) reasonably estimable new answers to the use of cookies request a of! Your current favorites in order to to add a new one all / combine content any action may! Ir ] NF7BSc99 } I2obaza $ 0R9: HS: '' c, personalize content and to you... Bottom of our site for more information about our organization, please contact our AccountingLink mailbox EY is global! Management judgment with an improved user experience 7: p3^dlnylE [ yz~Cg=UlUmnapE FW... Our purpose is building a better working world 2 ) reasonably estimable & Young global Limited a!, Impairment or disposal cost obligations has been updated new one and describes key accounting and reporting considerations be as... Commitments and contingencies guidance, including discussion of guarantees for Financial Statements Overall Overview and scope publication! 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