{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/450/30/#05-overview-and-background","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"450","topic_title":"Contingencies","subtopic":"450-30","subtopic_title":"Gain Contingencies","section":{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"450-30-05-1","para":"05-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">This Subtopic provides guidance for the recognition and disclosure of a <a href=\"/glossary/g/#gain-contingency\" class=\"term\" title=\"An existing condition, situation, or set of circumstances involving uncertainty as to possible gain to an entity that will ultimately be resolved when one or more future events occur or fail to occur.\"><span>gain contingency</span></a>.</div></div>","snippet":"This Subtopic provides guidance for the recognition and disclosure of a gain contingency.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fb2b08a8b51fa19a8dda4e6e90840ac62f456df3b1fdaf9d26d9add13d9ded1e","downloaded_from":"2026-09-10T00:27:52.539Z","last_downloaded_at":"2026-09-10T00:27:52.539Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147482947","source_sha256":"b33a7b2b743f2adbbf41278adf361316c59b597f21a28b5771b9a16f81abc7b0"}},{"citation":"450-30-05-2","para":"05-2","html":"<div class=\"asc-body\"><div class=\"norm-text\">This Subtopic, in combination with Subtopics <a altsource=\"GUID-6150B9DA-E825-4089-9DE1-CFF705A602B6.ditamap\" class=\"ditamap\">450-10</a> and <a altsource=\"GUID-E13146CA-1337-48D7-BF5C-574604DA8631.ditamap\" class=\"ditamap\">450-20</a>, provides general guidance regarding gain and <a href=\"/glossary/l/#loss-contingency\" class=\"term\" title=\"An existing condition, situation, or set of circumstances involving uncertainty as to possible loss to an entity that will ultimately be resolved when one or more future events occur or fail to occur. The term loss is used for convenience to include many charges against income that are commonly referred to as expenses and others that are commonly referred to as losses.\"><span>loss contingencies</span></a>. Other Topics include gain or loss contingencies related to those specific Topics. Therefore, the Contingencies Topic does not include all standards related to contingencies. While not intended to be all-inclusive, the following Relationships Sections within the Contingency Subtopics provide links to many Topic-specific contingencies: <ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">a</span><div class=\"p\">See Section <a altsource=\"GUID-F441826A-E9B7-4618-8CA8-2B698BB0A5DF.ditamap\" class=\"ditamap\">450-10-60</a> for references to other standards related to uncertainties that could result in either a gain or a loss.</div></li><li class=\"li-norm\"><span class=\"linum\">b</span><div class=\"p\">See Section <a altsource=\"GUID-1DDD8F86-F868-4D66-8C17-BBDC08B1D63F.ditamap\" class=\"ditamap\">450-20-60</a> for references to other standards related to uncertainties that could result in a future loss. </div></li><li class=\"li-norm\"><span class=\"linum\">c</span><div class=\"p\">See Section <a altsource=\"GUID-2110170A-1031-4515-8E24-EE95DD64197D.ditamap\" class=\"ditamap\">450-30-60</a> for references to other standards related to uncertainties that could result in a future gain.</div></li></ol></div></div>","snippet":"This Subtopic, in combination with Subtopics 450-10 and 450-20, provides general guidance regarding gain and loss contingencies. Other Topics include gain or loss contingencies related to those specific Topics. 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