UK Accounting Glossary
Gains and losses arising from actual or prospective receipts that differ from those originally predicted.
These are gains and losses arising from actual or prospective receipts that differ from those originally predicted; or from changes in the net present value (NPV) of the receipts as a result of differences in discount rates.
Windfall gain (or windfall profit) is an unexpected gain in income which could be due to winning a lottery, unforeseen inheritance or shortage of supply. Windfall gains are transitory in nature.
All income in kind, gambling gains and losses, capital gains and losses, windfall profits, and so on, are excluded.
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This glossary post was last updated: 4th May 2019.