أنشئ حسابًا أو سجّل الدخول للانضمام إلى مجتمعك المهني.
Under IFRS contingent assets are not recognized
A contingent asset can never be recognized as it fails the " resource controlled by the entity" and "prudence" requirements of the framework. However, if the likelihood of receipt is very high then an appropriate disclosure may be introduced in the financial statements.
Hope this helps!!!
