Financial losses that an entity might incur from an uncertain future event
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In accounting, contingent liabilities are liabilities that may be incurred by an entity depending on the outcome of an uncertain future event[1] such as the outcome of a pending lawsuit. These liabilities are not recorded in a company's accounts and shown in the balance sheet when both probable and reasonably estimable as 'contingency' or 'worst case' financial outcome. A footnote to the balance sheet may describe the nature and extent of the contingent liabilities. The likelihood of loss is described as probable, reasonably possible, or remote. The ability to estimate a loss is described as known, reasonably estimable, or not reasonably estimable. It may or may not occur.
^"External Debt Statistics: Guide for Compilers and Users". 9. Contingent Liabilities. International Monetary Fund. 18 June 2014. ISBN 9781484366622. Archived from the original on 28 July 2020. Retrieved 22 May 2020. {{cite book}}: |work= ignored (help)
and 26 Related for: Contingent liability information
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assets such as patents, and liabilities such as accounts payable, accrued expenses, and long-term debt. Contingentliabilities such as warranties are noted...
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International Accounting Standard 37: Provisions, ContingentLiabilities and Contingent Assets, or IAS 37, is an international financial reporting standard...
stable path in all standard stress tests except for the scenario with contingentliability shocks," such as "a large-scale bank recapitalization or financial...
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time, is the outstanding amount of those actual current, and not contingent, liabilities that require payment(s) of principal and/or interest by the debtor...
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stable path in all standard stress tests except for the scenario with contingentliability shocks", such as "a large-scale bank recapitalization or financial...
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alters the assets or liabilities, including contingentliabilities, outside India of persons resident in India or assets or liabilities in India of persons...
Demand Guarantees and SBLCs. For example, SBLCs are issued as a contingentliability of the issuing banks and are issued in conjunction with a primary...
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