Abstract
The article analyzes the issues of recognition, valuation, and reflection in accounting of contingent liabilities. In modern economic conditions, the activities of enterprises are associated with possible uncertainties and risks, and in these cases, conditional obligations are of great importance. Contingent liabilities must be recognized in the financial statements as potential future liabilities, and reliable methods must be applied in the process of their valuation. The article analyzes international and national accounting standards, examines the criteria for recognizing and evaluating contingent liabilities, the procedure for reflecting them in accounting, and their impact on the transparency of financial reporting. The role of contingent liabilities in the corporate risk management system, their impact on investment decisions and strategic planning are also scientifically analyzed. According to the research results, it is shown that the correct recognition and assessment of contingent liabilities is the main condition for the financial stability and reliable reporting of the enterprise. The article emphasizes the importance of using methods such as probability, reliable assessment, and scenario analysis in assessing contingent liabilities and provides recommendations for practical application.