Proposed Statement on Disclosure of Certain Loss Contingencies, an amendment of FASB Statements No. 5 and 141(R)

This proposed Statement is being issued due to concerns expressed by financial statement users that current disclosures on loss contingencies are not adequate.  The concern is partly over quantitative disclosures and the “overuse” of the “not estimatable” criteria.  Investors stated “they prefer to have a highly uncertain estimate supplemented with a qualitative description than no [...]