Financial Accounting Standards Board (fasb) 5
Definition of "Financial accounting standards board (fasb) 5"
Rule for accounting for contingencies that has application for the accounting of liabilities under the comprehensive environmental response, compensation, and liability act of 1980 (CERCLA). The act states that recognition must be given when a loss is probable and estimable. If the best estimate is a possible range for the loss, the low-end number must be recognized. When the minimum criteria for recognition has not been met, the act requires full disclosure if there is at least a reasonable possibility that a loss has been incurred.
Popular Insurance Terms
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Difference in the amount of losses between the beginning and end of a time period. ...
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Specific powers that a prospective insured believes the insurance company has granted to its agent. For example, if the insurance company has furnished the agent a rate book, application ...
Type of guaranteed investments contract in which the interest credited is adjusted on a periodic basis to reflect the investment earnings of the underlying assets of the contract. ...
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