close x
Home > Experts > Accounts > Difference b/w exceptional & extra-ordinary items

Please Wait ..

to your account


Remember Me | Forgot your password?


Sign-up now

Join and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.

Alternatively, you can log in using:

Difference b/w exceptional & extra-ordinary items (Accounts)

Report Abuse
This query is : Resolved

( Querist )
07 June 2012

What is the difference in exceptional & extra ordinary items in the context of revised schedule VI


( Expert )
08 June 2012

In my understanding extraordinary items are unusual or infrequent items.Expenses arising out of unusual natural disaster,prohibition under new regulation,expropriation..

Exceptional items are infrequent but not unusual.

Exceptional items relate to material non-recurring items of income and expense arising from circumstances such as:

- write-downs of inventories to net realizable value or of

property, plant and equipment to recoverable amount, as well

as reversals of such write-downs;

- restructurings of the activities of an entity;

- releases of provisions;

- disposals of property, plant and equipment;

- disposals of associates or other financial assets;

- discontinued operations;

- onerous contracts;

- litigation settlements.



You need to be the querist or approved CAclub expert to take part in this query .

Click here to login ( Members Login ) now

Similar Resolved Queries :


Quick Links

back to the top