Extraordinary Item

Extraordinary Item,

Definition of Extraordinary Item:

  1. Extraordinary Item can be defined as, Extraordinary items include losses or damages from extraordinary and unusual events that are classified, presented and reported separately in the company's financial statements. Unusual items are usually described in more detail in the note. Companies demonstrated unusual items separately from their operating income, as they are usually occasional gain or loss and are not expected in the future.

    • Extraordinary items are losses or damages caused by unusual and unusual events, which are reported separately in the company's annual financial statements.
    • In January 2015, the Financial Accounting Standards Board (FASB) abolished the notion of extraordinary items.
    • FASB has abandoned exceptional item accounting to reduce the cost and complexity of preparing annual financial statements.

Literal Meanings of Extraordinary Item

Extraordinary:

Meanings of Extraordinary:
  1. Company account items that are not the result of your normal activities.

  2. Very unusual or unusual.

Sentences of Extraordinary
  1. An extraordinary total of 5,315,917 troops gathered in the House of Commons on February 6, 1767, with only 28,111,287 coming from North America.

  2. Amazing male wings

Synonyms of Extraordinary

remarkable, prodigious, spectacular, unbelievable, astounding, miraculous, exceptional, marvellous, phenomenal, sensational, wonderful, stunning, astonishing, amazing, incredible

Item:

Meanings of Item:
  1. Used to insert each item in the list.

  2. An individual item or unit, especially an item that is part of a list, collection, or quantity.

Sentences of Item
  1. Agenda items

Synonyms of Item

piece, thing, product, article, module, commodity, unit, artefact, object, bit