OFF-BALANCE SHEET LIABIILITY Definition

Bookmark and Share

OFF-BALANCE SHEET LIABIILITY is an item not reported within the body of a financial statement as a liability that may require future payment or services, e.g., litigation, renegotiated claims within a government contract, and guarantees of future performance.

Learn new Accounting Terms

GOING CONCERN VALUE is the value of a business enterprise that is expected to continue to operate into the future. The intangible elements of Going Concern Value result from factors such as having a trained work force, an operational plant, and the necessary licenses, systems, and procedures in place.

CREDIT LOSSES PROVISION see PROVISION FOR CREDIT LOSSES.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.