Accounting rulemakers are looking for new ideas on how best to book assets and liabilities when nagging uncertainties or probabilities make their accounting less than straightforward.
The Financial Accounting Standards Board has issued an “invitation to comment” that poses a host of questions on how companies should book assets and liabilities when some measure of uncertainty or probability exists. By its own admission, FASB has treated uncertainty differently in various standards and concept statements, and it’s been assigned various treatments by the International Accounting Standards Board as well.
