Caroline Banton has 6+ years of experience as a writer of business and finance articles. She also writes biographies for Story Terrace. A contingent liability is a potential obligation that hinges on ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax ...

A contingent liability is a potential cost a company may or may not incur in the future. A contingent liability could be a guarantee on a debt to another entity, a lawsuit, a government probe, or even ...

A liability is a financial obligation or debt owed. Liabilities are key elements on every company’s balance sheet, and therefore, important to stock and bond investors. Learn more. In finance and ...

It often is difficult to determine the existence of a contingent liability. Even when the potential liability is known, it’s not easy to correctly value it. Failure to properly consider the tax impact ...

In accounting, contingencies are events that take place in the current accounting period, but are not resolved until later. This requires small business owner to estimate the outcome of these events ...