Further, the Partial Final Award is treated as a gain contingency
for accounting purposes and accordingly will not be recognised in the company's third quarter 2017 consolidated financial statements, it said as well.
Recognition of an asset for a gain contingency
prior to its meeting the criteria for recognition,
It was the first to gain contingency
plans--initially only against a putative, and implausible, attack from Belarus, a country barely a quarter of its size.
In FAS 5, the term "contingency" is defined as "an existing condition, situation, or set of circumstances involving uncertainty as to possible gain (hereinafter a 'gain contingency
') or loss (hereinafter a 'loss contingency') to an enterprise that will ultimately be resolved when one or more future events occur or fail to occur." Not all uncertainties give rise to FAS 5 contingencies.