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Do we recognise when virtually certain or when recieved (as it’s no longer contingent asset)?
See my answer to your previous post on contingent liabilities!
Include the contingent asset value as though it were a cast-iron certainty when valuing the fair value of an entity’s net assets on the occasion of that entity being acquired by a new parent entity
OK?
A little confused. we would only disclose contingent liabilities and assets. However when would we recognise?
Not asking from an acquisition point of view.
Assets? When virtually certain ie > 95%
Liabilities, when probable ie > 50%
OK?
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