(Total Views: 242)
Posted On: 11/16/2017 7:44:51 AM
Post# of 22465
Not to say you are incorrect. Why would there be overcharged legal fees?
It is not unusual for Company's and their audit client to disagree about contingent liabilities so there could be and effect on the financials is my point.
Companies often face situations where they may be liable for future financial payouts. This often occurs when another party, such as a customer or a vendor, sues the company. The final liability of the company depends on the outcome of the court proceedings. In some cases, the company needs to report this amount on its financial statements. When the company is likely to lose the proceedings and the amount of the liability can be estimated, the company needs to record this amount in its financial records and in its financial statements.
Lets an attorney has simply over billed them by accident?
It is not unusual for Company's and their audit client to disagree about contingent liabilities so there could be and effect on the financials is my point.
Companies often face situations where they may be liable for future financial payouts. This often occurs when another party, such as a customer or a vendor, sues the company. The final liability of the company depends on the outcome of the court proceedings. In some cases, the company needs to report this amount on its financial statements. When the company is likely to lose the proceedings and the amount of the liability can be estimated, the company needs to record this amount in its financial records and in its financial statements.
Lets an attorney has simply over billed them by accident?
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