A Proposed Model for Measuring Expected Losses from Litigation Contingencies

dc.contributor.authorMcElroy, Joseph
dc.contributor.authorMoellenberndt, Richarden_US
dc.dateJanuary 2006en_US
dc.date.accessioned2018-11-02T14:38:10Z
dc.date.available2018-11-02T14:38:10Z
dc.date.issued2006-01-1
dc.description.abstractAccording to the Securities and Exchange Commission (SEC), financial reporting has become an exercise of compliance with the copious number of rules prescribed in accounting standards rather than doing what is necessary to effectively communicate to investors. The communication of the financial impact of loss contingencies is one of the areas mentioned by the SEC that needs significant improvement. The rules specified in the accounting standards for loss contingencies are quite flexible and allow a considerable amount of interpretation. This flexibility has allowed companies to comply with the rules by providing only vague and overly broad statements about their contingencies. Companies have also commonly reported that they do not expect to incur losses right up to the time a large settlement is announced. In this paper, the authors propose a way to improve the communication of one class of loss contingencies--the litigation contingency.en_US
dc.description.sponsorshipKaw Valley Banken_US
dc.format.mediumPDFen_US
dc.identifier.otherSchool of Business Working Paper Series; No. 65en_US
dc.identifier.urihttps://hdl.handle.net/10425/202
dc.language.isoen_USen_US
dc.publisherWashburn University. School of Businessen_US
dc.subjectBusiness lossesen_US
dc.subjectCost - Mathematical modelsen_US
dc.subjectLitigationen_US
dc.titleA Proposed Model for Measuring Expected Losses from Litigation Contingenciesen_US
dc.typeWorking paperen_US
washburn.identifier.cdm136en_US
washburn.identifier.oclc63544088en_US
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