Contingent Asset

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1 Types

August 31, 2024 4 min read Definitions

Contingent Asset: Potential Future Benefits

Finance Accounting Contingent Asset Financial Statements Accounting Principles Assets Uncertain Gains

A Contingent Asset is an asset for which the pay-off depends upon future events that are not under the control of the company holding the asset. These assets are not included on the company's balance sheet but do appear in the financial statement notes.

August 31, 2024 4 min read Definitions

Contingent Liability: A Comprehensive Guide

Finance Accounting Contingent Liability Financial Reporting IAS 37 Accounting Standards Contingent Asset

An in-depth guide on contingent liabilities, including definitions, historical context, types, key events, models, charts, applicability, examples, and related terms in financial accounting and reporting.