Roadmap
Contingencies, Loss
Recoveries, and Guarantees (April 2021)
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This Roadmap provides
Deloitte’s insights into and interpretations of the accounting
guidance in (1) ASC 450 on loss contingencies, gain contingencies,
and loss recoveries and (2) ASC 460 on guarantees.
In addition to
summarizing the accounting framework in ASC 450 and ASC 460 and
providing an in-depth discussion of key concepts, this Roadmap
includes examples to illustrate how these concepts may be applied in
practice. The 2021 edition of this publication also includes updated
and expanded guidance as well as On the Radar, a new
section that briefly summarizes emerging issues and trends related
to the accounting and financial reporting topics addressed in the
Roadmap.
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.