contingent gain


contingent gain
A gain that depends upon the outcome of some contingency. For example, if a company is making a substantial legal claim against another organization, the company has a contingent gain (depending upon the successful outcome of the claim).

Accounting dictionary. 2014.

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  • contingent gain — A gain that depends upon the outcome of some contingency. For example, if a company is making a substantial legal claim against another organization, the company has a contingent gain (depending upon the successful outcome of the claim). Compare… …   Big dictionary of business and management

  • contingent loss — A loss that depends upon the outcome of some contingency. For example, if there is a substantial legal claim for damages against a company, there is a contingent loss (depending on the outcome of the claim). Compare: contingent gain See also:… …   Accounting dictionary

  • contingent asset — A possible asset that arises from past events and whose existence will be confirmed only by the occurrence of one or more uncertain future events, which are not wholly in the control of the accounting entity. Under Financial Reporting Standard 12 …   Big dictionary of business and management

  • contingent loss — A loss that depends upon the outcome of some contingency. For example, if there is a substantial legal claim for damages against a company, there is a contingent loss (depending on the outcome of the claim). Compare contingent gain See also… …   Big dictionary of business and management

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