Gain Contingency

Potential or pending development that may result in a future gain to the company, such as a successful lawsuit against another company. Conservative accounting practice dictates that gain contingencies should not be booked although footnote disclosure of the particulars may be made. See also Loss Contingency.

Potential or pending development that may result in a future gain to the company, such as a successful lawsuit against another company. Conservative accounting practice dictates that gain contingencies should not be booked, although footnote disclosure of the particulars may be made. See also Loss Contingency.