Question: 1-Cite(FASB)and explain when a contingent loss should be shown on the financial statements. 2. Cite and explain the criteria to determine if an employer must

1-Cite(FASB)and explain when a contingent loss should be shown on the financial statements.

2. Cite and explain the criteria to determine if an employer must accrue a liability for vacation pay.

3. Cite and explain GAAPs statement about gain contingencies (should they be shown on the financial statements and/or should they be disclosed in the notes to the financial statements).

4. Cite(FASB) and explain the disclosure requirements for contingently convertible securities. (with code)

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