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Accounting literature has identified fundamental conceptual issues and uncertainties regarding the financial reporting treatment of liabilities. This paper assesses whether the underlying concepts for the definition of a liability are robust and sufficiently developed in the 2018 Conceptual Framework of the International Accounting Standards Board (IASB) to create a conceptual foundation to identify, recognise, measure and derecognise liabilities. Doctrinal research is applied to evaluate the proposed concepts by using authoritative interpretation. The outcome of the authoritative interpretation is the contribution to the accounting literature. The paper finds that the 2018 Conceptual Framework significantly improves the conceptual foundation of the identification, recognition, measurement and derecognition of liabilities. The 2018 Conceptual Framework clarifies the obligation and past event criteria of the definition of a liability and, as a result, has paved the way for removing the reference to future outflow or sacrifices in both the definition and the recognition criteria of a liability. The 2018 Conceptual Framework also implies that when meeting the definition of a liability, in principle, it appropriately triggers recognition. It also clearly defines the different measurement bases and clarifies the measurement decision process regarding liabilities, which are sufficiently based on the nature and benefits of different measurement bases and the factors of useful information. The uncertainty about the existence of a liability for incorporation in financial statements is, however, still problematic and could create uncertainty in developing related International Financial Reporting Standards (IFRSs) and in practical applications. [ABSTRACT FROM AUTHOR]

This study aims to identify the characteristics of liabilities and contingencies of 20 clubs participating in the First and Second Division of the Brazilian Championship of 2017 that presented all financial statements from 2010 to 2018. It was found that 79 of 180 balance sheets analyzed presented uncovered liabilities and denoting effective problems of economic and financial unviability although no clubs broke effectively. The findings demonstrate that clubs cannot support themselves and eventually need to raise third-party resources. The study differs from previous research because it identifies the characteristics of liabilities, and provisions as present and future obligations for Brazilian football clubs. Thus, this research contributes by providing an overview of the indebtedness of Brazilian football clubs. [ABSTRACT FROM AUTHOR]

The lack of speed is one of the most important obstacles to the delay of litigants in exercising their rights at every stage of the proceedings, either because of the behaviour of the opponents themselves or due to the judiciary system. To remedy this problem, urgent solutions must be considered to avoid all impediments to the proper functioning of the criminal justice system, which requires speed and ease as essential elements for resolving disputes and asserting rights and interests within an acceptable timeframe and without undue delay. [ABSTRACT FROM AUTHOR]

The liquidity of the agricultural holding makes it possible to establish to what extent it is possible for it to cover its liabilities in the near future. The company can focus on sticking to certain values of these indicators - these are values that according to the financial management of the company if achieved, it will mean that there will be no significant problems in terms of repayment of current obligations. The purpose of the research is after measuring the state of financial liquidity of agricultural holdings and capturing the trend, to analyze whether current ratios are enough for covering short-term expenses. The study has included representatives of the micro business in Bulgaria using survey and comparative analysis. The results reveal satisfactory levels of liquidity and managed to capture a descending trend comparing the levels of liquidity for the researched period. [ABSTRACT FROM AUTHOR]