06319oam 22012614 450 991095740350332120250426110713.0978661284196597814623093751462309372978145272687814527268769781282841963128284196397814518710361451871031(CKB)3170000000055142(EBL)1608058(SSID)ssj0000943999(PQKBManifestationID)11544307(PQKBTitleCode)TC0000943999(PQKBWorkID)10982473(PQKB)10083407(OCoLC)460974893(MiAaPQ)EBC1608058(IMF)WPIEE2008245(IMF)WPIEA2008245WPIEA2008245(EXLCZ)99317000000005514220020129d2008 uf 0engur|n|---|||||txtccrContingent Liabilities : Issues and Practice /Aliona Cebotari1st ed.Washington, D.C. :International Monetary Fund,2008.1 online resource (62 p.)IMF Working PapersIMF working paper ;WP/08/245Description based upon print version of record.9781451915563 145191556X Includes bibliographical references.Contents; I. Introduction; II. Background; III. Mitigating Risks Associated with Contingent Liabilities; A. Frameworks for Dealing with Risks from Contingent Liabilities; B. When to take on Contingent Liabilities?; Boxes; 1. Market Failure and Terrorism Insurance; 2. When Are Guarantees Preferable to Other Forms of Support?; C. Strategies to Transfer Risk or Costs Related to Contingent Liabilities; Figures; 1. Typical Infrastructure PPP Project Risks and Hypothetical Allocation; 3. Estimating the Expected Cost and Market Value of GuaranteesD. Other Safeguards against Risks Related to Contingent LiabilitiesIV. Managing Retained Risk from Contingent Liabilities; A. Instruments for Managing Low Impact Liabilities; B. Instruments for Managing High Impact Liabilities; Tables; 1. Contingency Funds to Meet Calls on Contingent Liabilities: Selected Examples; V. Disclosing Contingent Liabilities; 2. IPSAS: When to Recognize and Disclose Contingent Liabilities; 3. Accounting/Statistical Standards and Transparency Initiatives: What to Disclose; 4. Legislative Requirements to Disclose Fiscal Risks: Selected Country ExamplesVI. Institutional Arrangements for Managing Contingent Liability Risks5. Disclosing the Magnitude of Contingent Liabilities: Selected Country Examples; VII. Conclusion; 4. Institutional Arrangements for Managing PPP Risks; A1. Accounting Standards and Standard Setters; Annexes; I. Accounting/Statistical Standards and Contingent Liabilities; A1. Summary of the Main Requirements for Recognition and Disclosures of Contingent Liabilities; II. Measuring the Value of Contingent Liabilities; A1. The Swedish Debt Office Simulation Model; ReferencesContingent liabilities have gained prominence in the analysis of public finance. Indeed, history is full of episodes in which the financial position of the public sector is substantially altered-or its true nature uncovered-as a result of government bailouts of financial or nonfinancial entities, in both the private and the public sector. The paper discusses theoretical and practical issues raised by contingent liabilities, including the rationale for taking them on, how to safeguard against the fiscal risks associated with them, how to account and budget for them, and how to disclose them. Country experiences are used to illustrate ways these issues are addressed in practice and challenges faced. The paper also points to good practices related to the mitigation, management and disclosure of risks from contingent liabilities.IMF Working Papers; Working Paper ;No. 2008/245Contingent liabilities (Accounting)Liabilities (Accounting)Finance, PublicAccountingRisk managementAccountingimfActuarial StudiesimfBudget planning and preparationimfBudget SystemsimfBudgetimfBudgeting & financial managementimfBudgetingimfContingent liabilitiesimfFinance, PublicimfFinancial reporting, financial statementsimfFinancial statementsimfFiscal policyimfFiscal risksimfInsurance & actuarial studiesimfInsurance CompaniesimfInsuranceimfNational BudgetimfPublic AdministrationimfPublic finance & taxationimfPublic FinanceimfPublic Sector Accounting and AuditsimfUnited StatesimfContingent liabilities (Accounting)Liabilities (Accounting)Finance, PublicAccounting.Risk management.AccountingActuarial StudiesBudget planning and preparationBudget SystemsBudgetBudgeting & financial managementBudgetingContingent liabilitiesFinance, PublicFinancial reporting, financial statementsFinancial statementsFiscal policyFiscal risksInsurance & actuarial studiesInsurance CompaniesInsuranceNational BudgetPublic AdministrationPublic finance & taxationPublic FinancePublic Sector Accounting and Audits336.343351Cebotari Aliona1808816DcWaIMFBOOK9910957403503321Contingent Liabilities4371514UNINA