Contingency

1. Financial reporting - business planning.

Broadly, any uncertain future event.

2. Financial reporting - IAS 37.

For financial reporting purposes, IAS 37 defines a contingent liability by reference to the occurrence - or non-occurrence - of uncertain events not wholly within the control of the entity.

IAS 37 defines a contingent asset in a similar way.

3. Business planning.

An uncertain future event.

Usually - but not always - one that is expected to have a negative impact if it were to occur.

4. Financial management.

An amount of money set aside to deal with the potential negative impact of an uncertain future event.

See also

• Business contingency management
• Business continuity plan
• Contingency plan
• Contingent
• Contingent assets
• Contingent capital
• Contingent convertible capital
• Contingent covenant
• Contingent item
• Contingent liabilities
• Contingent risk
• Contingent Term Repo Facility (CTRF)
• Deal contingent forward
• Financial reporting
• IAS 37