Unlike a loss contingency, a gain contingency: It is usually not reflected in the financial statements and could and may contain an adequate disclosure of the contingency to avoid errors regarding the possibility of it being executed. It is usually not recognized in the financial statements and no disclosure is even required to be made about it. It is usually reflected in the financial statements and a complete disclosure is generated that contains all the possible consequences of the contingency, whether or not they are likely to occur. No disclosure of information is necessary, as the obligations reflect a future benefit to the organization