EDGAR (Electronic Data Gathering, Analysis, and Retrieval system) performs automated collection, validation, indexing, acceptance, and forwarding of submissions by companies and others who are required by law to file forms with the U.S. Securities and Exchange Commission (SEC). All publicly traded domestic companies use EDGAR to make the majority of their filings. Form 10-K, which includes the annual report, is required to be filed on EDGAR. The SEC makes this information available on the Internet.

1. Access the FASB's Codification Research System at the FASB website ( Identify the authoritative literature that provides guidance on accounting for contingent losses, and indicate the specific citations that describe the guidelines for determining when an expense and liability associated with a contingent loss should be accrued vs. only disclosed in the footnotes?
2. Access EDGAR on the Internet at:
3. Search for a public company with which you are familiar. Access its most recent 10-K filing. Search or scroll to find the financial statements and related notes.
4. Specifically, look for any contingency(s) reported in the disclosure notes. Identify the nature of the contingency(s) described and explain the reason(s) the loss or losses was or was not accrued.
5. Repeat requirements 2 and 3 for two additional companies.

  • CreatedJuly 02, 2013
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