Many state and federal laws place possible future liabilities on companies as a result of environmental pollution, gender discrimination, safety requirements, and other social responsibilities. In general, these items are part of those potential losses and liabilities covered by FASB Statement No. 5. Some companies are reporting these items as liabilities; others are waiting for more specific guidelines by the FASB before reporting them. Should the FASB adopt specific guidelines for reporting these liabilities, or should the decision be left to companies based on the general conceptual guidelines of FASB Statement No. 5?