extraordinary item investment & finance definition
A revenue or expense that is unusual and infrequent, as
defined by the Accounting Principles Board in its Opinion No. 30. Examples of
extraordinary items include expenses to deal with a fire, earthquake, or
uninsured losses from a flood, the gain or loss from early retirement of debt,
or the expropriation of a property by a foreign government. Companies’
financial statements separate extraordinary items from regular expenses in
order to give investors what the companies consider a more accurate picture of
their ongoing business and expenses.
See extraordinary item in Wall Street Words
An infrequently occurring transaction or event that, if material, is reported separately from continuing operations.
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