Difference beetwin extraordinary items and exceptional items
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 August 2012
please tell me Difference beetwin extraordinary items and Exceptional items with examples for both
Thanks you
Prashant
Thanks you
Prashant
Arpit Shah
(Expert)
24 January 2016
'Extraordinary Item' Gains or losses included in a company's financial statements, which are infrequent and unusual in nature. These are usually explained further in the "notes to the financial statements."
Arpit Shah
(Expert)
24 January 2016
An exceptional item is an unusually large and uncommon transaction charge that must be disclosed on the balance sheet in accordance with GAAP.
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