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Roadmap Series

Contingencies, Loss Recoveries, and Guarantees

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Contingencies, Loss Recoveries, and Guarantees (April 2021)

  • Download the PDF version (available without subscription; not updated after issuance).
  • View the active version (subscription required; updated as warranted). For subscribers, links to substantive changes made to the Roadmap since its issuance, if any, will be provided below.
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.