Income Statement’s Items Require Special Disclosure
In general, an income statement summarizes revenues and expenses and gains and losses, and ends with the net income for a specific period. However, to …
Posts tagged Extraordinary Items
Income Statement [A Closer Look]
Income statement summarize past transactions and events. Many users of income statements are interested in the past only to the extent that it can help …
3 Special Income Statement Items On Cash Flows Statement
U.S. GAAP requires that three special items be displayed on an after-tax basis in the income statement, they are: (1) discontinued operations, (2) extraordinary items, …
What Are Considered As Extraordinary Items In A Financial Report?
One among irregular items that gets special accounting consideration is an extraordinary event. An extraordinary item is a transaction or event that is both unusual …