Contingency and Cost and freight: Difference between pages

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1. ''Financial reporting - business planning.''
''Incoterms''.


Broadly, any uncertain future event.
(CFR).


Under CFR terms, the seller is required to clear the goods for export, deliver them onboard the ship at the port of departure, and pay for transport of the goods to the named port of destination.


2. ''Financial reporting - IAS 37.''
The risk passes from seller to buyer when the seller delivers the goods onboard the ship.  
 
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==
==See also==
*[[Business contingency management]]
* [[COD]]
*[[Business continuity plan]]
* [[Cost]]
* [[Contingency plan]]
* [[CIF]]
* [[Contingent]]
* [[Documentary collection]]
* [[Contingent assets]]
* [[DPU]]
* [[Contingent capital]]
* [[Freight]]
* [[Contingent convertible capital]]
* [[ICC Incoterms 2020]]
* [[Contingent covenant]]
* [[Incoterms]]
* [[Contingent item]]
* [[Transport documents]]
* [[Contingent liabilities]]
* [[Twenty-Foot Equivalent Unit]]
* [[Contingent risk]]
* [[UCC]]
* [[Contingent Term Repo Facility]]  (CTRF)
* [[Deal contingent forward]]
* [[Financial reporting]]
* [[IAS 37]]
* [[Reserves]]


[[Category:Accounting,_tax_and_regulation]]
[[Category:Accounting,_tax_and_regulation]]
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[[Category:Identify_and_assess_risks]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Manage_risks]]
[[Category:Trade_finance]]

Latest revision as of 16:11, 2 October 2022

Incoterms.

(CFR).

Under CFR terms, the seller is required to clear the goods for export, deliver them onboard the ship at the port of departure, and pay for transport of the goods to the named port of destination.

The risk passes from seller to buyer when the seller delivers the goods onboard the ship.


See also

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