extraordinary item

Definition

Accounting entry which reflects materially-large cost (such as that incurred for plant shutdown) or materially-large revenue (such as that realized from sale of a piece of land) that is unlikely to recur and which does not derive from a firm's normal line of business. All extraordinary items must be disclosed and explained by the management in the financial statements, showing the firm's earnings before and after taking into account the effects of extraordinary items. Some firms use them to 'massage' their financials in order to make them look better or worse then they actually are (see creative accounting). Also called special item. See also exceptional item.

单词	extraordinary item
释义	extraordinary item Definition Accounting entry which reflects materially-large cost (such as that incurred for plant shutdown) or materially-large revenue (such as that realized from sale of a piece of land) that is unlikely to recur and which does not derive from a firm's normal line of business. All extraordinary items must be disclosed and explained by the management in the financial statements, showing the firm's earnings before and after taking into account the effects of extraordinary items. Some firms use them to 'massage' their financials in order to make them look better or worse then they actually are (see creative accounting). Also called special item. See also exceptional item.
随便看	controlled foreign corporation (CFC) controlled insurance controlled item controlled substance controlled trust controlled variable controlled variation controller control limits controlling controlling interest control mechanisms control person control plan control point control procedure control provision control ratio control risk control specifications control stock control system control theory control variable tier 1 capital