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| Home > News > Financial and Economic News > Business school professors explore the market for contingencies services |
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| Business school professors explore the market for contingencies services |
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Due to the economic downturn, many companies are looking for methods to predict their financial future and handle crises as they emerge. Consequently, many MBA programs are beginning to examine the market for contingencies services.
In fact, a group of business school faculty members recently penned the Accounting for Contingencies portfolio analysis for BNA Tax and Accounting.
The document - which covers the provisions, contingent liabilities and possible assets addressed in International Accounting Standard (IAS) 37 - discusses the ways accountants in which can address, recognize and disclose contingencies according to IAS code.
BNA officials say that they created the portfolio according to the General Accepted Accounting Principles and International Financial Reporting Standards. Both codes require businesses to plan and account for any prospective gains or losses from future operations, cash flows and net worth.
George Farrah, the company's executive editor, said that the portfolio "not only addresses textbook contingencies, but it also identifies other similar items not properly accounted for as contingencies."
Studying similar trends could benefit MBA degree candidates, as this knowledge could help them compete for financial management positions.
According to the Bureau of Labor Statistics, approximately 41,200 of these jobs will become available over the next eight years. |
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