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Open it Extraordinary items are BOTH unusual in nature AND infrequent in occurrence, and material in amount. They must be reported separately (below the line) net of income tax.
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Subject 6. Non-Recurring Items and Non-Operating Items .
Subsidiaries and investees also qualify as separate components. Disposal of a portion of a business component does not qualify as discontinued operations. Instead, this is recorded as an unusual or infrequent item.
<span>2. Extraordinary items
Extraordinary items are BOTH unusual in nature AND infrequent in occurrence, and material in amount. They must be reported separately (below the line) net of income tax.
Common examples are:
Expropriations by foreign governments. Uninsured losses from earthquakes, eruptions, and tornadoes.
Note that gains and losses from the early retirement of debt used to be treated as extraordinary items; SFAS No. 145 now requires them to be treated as part of continuing operations.
3. Unusual or infrequent items
These are either unusual in nature OR infrequent in occurrence but not both. They may be disclosed separately (as a single-line
Summary
status
not learned
measured difficulty
37% [default]
last interval [days]
repetition number in this series
0
memorised on
scheduled repetition
scheduled repetition interval
last repetition or drill
Details
No repetitions
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