PDSnet Glossary

Term

Categories

Introductory Technical Fundamental Economics Opinion Sectors International Regulatory Other Markets

Versions

Name	synonyms = 1, variations = 2, abbreviations = 3

Publish: (0 = no, 1 = yes)

Definition

An Income Statement item which shows an expense or income which is not part of the company's normal business. For example, if a supermarket chain sells a piece of land and makes a profit, then that profit is not a normal part of its business and so in terms of the Companies Act and GAAP, that profit must be shown as an "Extraordinary Item" usually on the face of the income statement or by way of a note.

Edit Glossary Term