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A going concern is an accounting term for a business that is assumed will meet its financial obligations when they become due. It functions without the threat of liquidation for the foreseeable future, which is usually regarded as at least the next 12 months or the specified accounting period (the longer of the two).
Examples of material non-adjusting events include a major acquisition or disposal of an asset of subsidiary, discontinuing an operation, destruction of a major production plant by fire, announcement or implementation of a major restructuring and commencing major litigation arising solely out of events that occurred after the reporting period.
A critical benefit of contingent convertible debt that distinguishes it from other forms of risk absorbing debt is the effect of "going concern conversion". When the trigger is well chosen, automatic conversion reduces leverages precisely when the bank faces high incentives for risk shifting.
International Accounting Standard 37: Provisions, Contingent Liabilities and Contingent Assets, or IAS 37, is an international financial reporting standard adopted by the International Accounting Standards Board (IASB).
Examples of types of liabilities include: money owing on a loan, money owing on a mortgage, or an IOU. Liabilities of sectors of USA economy, 1945-2017, based on flow of funds statistics of the Federal Reserve System. Liabilities are debts and obligations of the business they represent as creditor's claim on business assets.
An opinion is said to be unqualified when he or she does not have any significant reservation in respect of matters contained in the Financial Statements. The most frequent type of report is referred to as the "Unqualified Opinion", and is regarded by many as the equivalent of a "clean bill of health" to a patient, which has led many to call it the "Clean Opinion", but in reality it is not a ...
Uncertainty is an unavoidable aspect of everyday life. The degree to which it is felt in a given situation varies among individuals. Because uncertainty is dependent upon perspective, "a person who believes himself or herself to be uncertain is uncertain." [2] However, people have different appetites and tolerances for uncertainty. For some ...
Quantitative uses of the terms uncertainty and risk are fairly consistent among fields such as probability theory, actuarial science, and information theory. Some also create new terms without substantially changing the definitions of uncertainty or risk. For example, surprisal is a variation on uncertainty sometimes used in information theory ...