The case discusses the current U.S. and international accounting advice in relation to the disclosure of contingent assets and environmental liabilities, including FAS 5 and IAS 37 This determines the role of socially responsible investors and other factors that gave rise to the reconsideration of the FASB guidance. The case details of the proposed new guidelines and includes perspectives from different subgroups (preparers and users) on their advantages and disadvantages. The case concludes with an examination … Read more »

The case discusses the current U.S. and international accounting advice in relation to the disclosure of contingent assets and environmental liabilities, including FAS 5 and IAS 37 This determines the role of socially responsible investors and other factors that gave rise to the reconsideration of the FASB guidance. The case details of the proposed new guidelines and includes perspectives from different subgroups (preparers and users) on their advantages and disadvantages. The case closes with an example of the existing guidelines in practice with Novartis AG. It includes Novartis financial and other quantitative information on environmental risks and its liability from a disposal site in Bonfol, Switzerland, in particular.
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from
Alan D. Jagolinzer,
Nathan T. Blair,
C. Gregory Rogers
Source: Stanford Graduate School of Business
19 pages.
Release Date: 18, December 2008. Prod #: A200-PDF-ENG
Disclosure Dilemma: Financial Reporting of Contingent and Environmental Liabilities HBR case solution

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