How should accountants treat contingent gains and contingent losses?

Start networking and exchanging professional insights

Register now or log in to join your professional community.

Next Question:
An Asset with revalued cost of 12k, initial cost 10k, depre of 5k, was sold for ...
Posted by:
Mozammil Ahmad
08-February-2015

Accounting Auditing

Question added by HANNA SABA , Team Leader (Administrative Support), including translation, editing, and writing , Deloitte
Date Posted: 2014/06/14

Upvote (1) Views (5) Followers (2) Answers (1) Report Question

Write an Answer
Register now or log in to answer.

1 Answers

hazem A-Shahary

by hazem A-Shahary , محاسب + مدير شئون الموظفين + امين صندوق , شركة لبيع الادوات الصحية

Show potential losses Neglecting the potential gains

Downvote Reply () Report

Popular Searches

Sales Executive Jobs Engineers Jobs Engineering Technicians Jobs Accountant Jobs Driver Jobs

Write Your Answer

More Questions Like This

A receipts and payments account is similar to A: an income and expenditure account B:profit and loss account C:trading account D:cash book money?
Top Answer: A. an income and expenditure account See More

Answers (1)
How do you adjust the exchange gain/loss at the time of capitalization of any asset if it is purchased in other than local currency?
Top Answer: it will be added to total landed cost and capitalized. See More

Answers (1)
How to record the entries in the books of account for contingent liability ?
Top Answer: <p>Contingent liability is not a payable liablility till its an actual obligation as per accounting ... See More

Answers (4)
"Un absorbed depreciation should always treated as Business Loss". Correct or Not?
Top Answer: yes See More

Answers (1)

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.