- extraordinary item
- An unusual and unexpected one-time event that must be explained to shareholders in an annual or quarterly report, e.g., write down for a discontinued operation, employee fraud, a lawsuit, or other one-time events. Results are often presented with and without these items. The logic of excluding these items is that investors have a better notion of future performance if one-time events are excluded. Differs from an unusual item in that extraordinary items are (1) material; (2) non-recurring; and (3) outside the ordinary nature of the business. Bloomberg Financial Dictionary————Part of a company's profit and loss account. Items which are material, possess a high degree of abnormality, are not expected to recur and are derived from events or transactions outside of the ordinary activities of a company. Note that, because the definition of ordinary activities is extremely wide, it is extremely unlikely that a company will show an extraordinary item in its accounts in any one year. Dresdner Kleinwort Wasserstein financial glossary
* * *extraordinary item extraordinary item ➔ item
* * *A non-recurring item which shows gains or losses outside normal business activities. An extraordinary item is shown in the profit and loss account and affects the balance sheet. It can be, for example, the sale of property or loss from selling part of the company.► See also Exceptional Item.
Financial and business terms. 2012.
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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. These are the result of unforeseen and atypical events. They… … Investment dictionary
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extraordinary item — A transaction separately reported or disclosed in an *income statement on account of its *materiality, unusual nature, or infrequency. Extraordinary items arise from events outside normal operating activities, and examples may include large scale … Auditor's dictionary
extraordinary item — /əkˈstrɔdənri aɪtəm/ (say uhk strawduhnree uytuhm) noun (often plural) a gain, loss, expense or item of revenue arising from activities outside the normal operations of a business. Compare abnormal item … Australian English dictionary
item — i‧tem [ˈaɪtəm] noun [countable] 1. a single thing, especially something that is for sale: • The CD used to be considered a luxury item. • stores selling non food items 2. ACCOUNTING a piece of information written in a set of accounts … Financial and business terms
Extraordinary rendition by the United States — Extraordinary Rendition redirects here. For the 2007 film, see Extraordinary Rendition (film). Extraordinary rendition (or irregular rendition) is the abduction and illegal transfer of a person from one nation to another. Torture by proxy is… … Wikipedia
extraordinary items — Items that are material, not expected to recur frequently and derive from outside the ordinary activities of the company. Contrast this with an exceptional item, which is derived from within the ordinary activities of the company. The impact that … Law dictionary
extraordinary — adjective 1. /əkˈstrɔdənri / (say uhk strawduhnree), /ɛk / (say ek ) beyond what is ordinary; out of the regular or established order: extraordinary power; extraordinary expenses. 2. /əkˈstrɔdənri / (say uhk strawduhnree), /ɛk / (say ek )… … Australian English dictionary
Exceptional Item — An item that is within normal business activities, but is of unusual size. It is usually recorded separately in the profit and loss account. ► See also Extraordinary Item … Financial and business terms
abnormal item — /æbnɔməl ˈaɪtəm/ (say abnawmuhl uytuhm) noun (often plural) a gain, loss, expense or item of revenue which occurs in the normal course of a company s business but which is regarded as abnormal because of its size and effect during the reporting… … Australian English dictionary