This Roadmap provides Deloitte’s insights into and interpretations of the accounting guidance in ASC 450 on loss contingencies, gain contingencies, and loss recoveries. In addition, the 2020 edition of this publication contains a new chapter on the accounting guidance in ASC 460 on guarantees.
This Roadmap replaces the Deloitte Q&As that were contained in ASC 450. To find the text in the Roadmap that corresponds to a former Q&A, select the “Contingencies” tab at the bottom of the Q&A to Roadmap Quick Reference Guide and search for the Q&A’s number or title.
Be sure to check out other titles in Deloitte’s Roadmap series, our comprehensive, easy-to-understand collection of accounting guides on selected topics of broad interest to the financial reporting community.