Would a company be more likely to report a contingent liability under U S GAAP or IFRS Which is more conservative in the reporting of contingent liabilities , U S GAAP or IFRS ...

Would a company be more likely to report a contingent liability under U. S. GAAP or IFRS?

Question:

Would a company be more likely to report a contingent liability under U. S. or IFRS? Which is more conservative in the reporting of , U. S. or IFRS?

Contingent liabilities
A contingent liability is an obligation of business related to an uncertain future event. The business must record it in its financial statements if the amount can be reliably estimated and it is probable that amount will be paid by business as a... GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...