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U.S. GAAP Codification of Accounting Standards |
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| Codification Topic 450-30 Gain Contingencies
Gain contingency--> a gain will incur if certain future events occur or not occur
Recognition of a gain contingency--> a gain contingency is not recognized --> in the financial statements
Disclosure of a gain contingency--> a gain contingency may be disclosed in the notes --> however, misleading implications about (A) should be avoided (A) the likelihood of realization
International Financial Reporting Standards (IFRS)IAS 37: Provisions, contingent liabilities and contingent assets |
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Codification Topic 450 Contingencies |
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Subtopics of Codification Topic 450 450-10 Overall 450-20 Loss contingencies 450-30 Gain contingencies |
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Accounting Terms of Codification Topic 450-10 Contingency Gain contingency Loss contingency |
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Accounting Terms of Codification Topic 450-20 Probable Reasonably possible Remote |
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Accounting Terms of Codification Topic 450-30 |
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