Learn what a contra liability account is, how it functions in financial accounting, and explore examples of this essential component in balancing liabilities.

As a former claims handler and fraud investigator, Jason Metz has worked on a multitude of complex and multifaceted claims. The insurance industry can be seemingly opaque, and Jason enjoys breaking ...

A liability is a financial obligation or debt owed. Liabilities are key elements on every company’s balance sheet, and therefore, important to stock and bond investors. Learn more. In finance and ...

Discover how adjunct accounts enhance financial reporting by increasing liability book values. Learn how they differ from contra accounts and see real-world examples.

For nearly a decade, Toni Matthews-El has published business topics ranging from cloud communication software to best steps for establishing your own LLC. In addition to Forbes Advisor, she's ...

The limitation of liability is one of the most important clauses in a software license agreement because it limits the amount and types of damages one party can recover from the other party. For ...

What would happen if your business was sued? You damage a client's property, one of your employees is injured on the job, a customer slips and falls in your store—that's all it takes. And then what?

An insurance policy that service-related businesses need is professional liability insurance. Learn about what it covers and ...