Learn what an onerous contract is, regulations for reporting them, and examples. Explore how IFRS and GAAP differ in handling these unfavorable contracts.

The International Accounting Standards Board is looking for feedback on some targeted improvements it's proposing to make to improve the requirements for recognizing and measuring provisions on ...

The AICPA outlined its concerns to Congress about provisions in the tax bill that could hurt the accounting profession, including a section that allows long-debated contingent fees that it described ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. In accounting, accrued expenses and provisions are financial obligations ...