Estimate the amount of possible future contingency

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Reference no: EM132245510

TOPIC 1: Try this for planning your own retirement account: Given a stated level of biweekly or monthly contributions, any employer matching added in, an assumed average annual earnings, and the expected number of years until you retire, calculate the expected size of your retirement account. And please remember that this exercise is for only one part of your financial future.

TOPIC 2: Many firms believe that it is very difficult to estimate the amount of a possible future contingency. Should a contingent liability be reported even when the dollar amount of the loss is not known? Should it be disclosed in the notes to financial statements? Explain.

Reference no: EM132245510

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