By Roy on June 7, 2010
A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the enterprise.
Posted in Events after the balance sheet date |
By Roy on June 7, 2010
There are two types of contingent liabilities: possible obligation and present obligation. Here is the explaination and examples about them.
Posted in Events after the balance sheet date |
