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Risks and uncertainties represent conditions that may impact a reporting entity's financial results in future periods. Providing information about these conditions to financial statement users is therefore useful to enable them to assess a reporting entity's future prospects.
This chapter covers the following topics:
  • Scope of ASC 275, Risks and Uncertainties
  • Disclosures required by ASC 275
  • Interaction of ASC 275 with other guidance
  • Going concern disclosure considerations required by ASC 205-40
  • Considerations for private companies

PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

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