Truth in accounting — the proper recognition of losses and liabilities, the acknowledgment of inconvenient facts — is a kind of virtue.
Representatives of the asbestosis victims welcomed Halliburton's settlement with Equitas and the recognition of the asbestos liabilities in its accounts as evidence that it is close to paying up.
This paragraph shall not preclude liability for costs or damages as a result of gross negligence or intentional misconduct by the State or local government". This section is, needless to say, an explicit recognition of the potential liability of States under this statute; Congress need not exempt States from liability unless they would otherwise be liable.
"Recognition of disparate impact liability under the FHA also plays a role in uncovering discriminatory intent: It permits plaintiffs to counteract unconscious prejudices and disguised animus that escape easy classification as disparate treatment," wrote Kennedy, joined by Justices Ruth Bader Ginsburg, Stephen Breyer, Sonia Sotomayor and Elena Kagan.
Five out of the 11 quantitative metrics used by Audit Integrity to evaluate Federal-Mogul were directly impacted by the significant gains, expenses and balance sheet adjustments required to be recorded under US GAAP by companies emerging from Chapter 11, including the restatement of our balance sheet to fair value and mandatory recognition of income resulting from settlement of liabilities.
A big chunk of that loss was accounted for by recognition of a $98.8 million tax liability.
This review found that while trade in telemedicine services has the potential to benefit both the exporting and importing countries by allowing for faster service delivery and raising foreign exchange, there are concerns regarding data security, recognition of qualifications and legal liability [ 12].
This includes an examination of the main financial statements, the nature of accrual measurement, revenue recognition, assets, liabilities and equity.
And we added up our liabilities and there were a lot of liabilities".
"There are all kinds of liabilities.
