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Exposure Drafts, Comment Letters, and Statements of Position
Disclosure in accounting; Financial statements -- Standards -- United States; Corporations -- Accounting -- Standards -- United States
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Proposed Apb Opinion : Reporting The Effects Of Extraordinary Events And Transactions;Reporting The Effects Of Extraordinary Events And Transactions; Exposure Draft (American Institute Of Certified Public Accountants), 1972, American Institute Of Certified Public Accountants. Accounting Principles Board
Proposed Apb Opinion : Reporting The Effects Of Extraordinary Events And Transactions;Reporting The Effects Of Extraordinary Events And Transactions; Exposure Draft (American Institute Of Certified Public Accountants), 1972, American Institute Of Certified Public Accountants. Accounting Principles Board
Exposure Drafts, Comment Letters, and Statements of Position
This draft Opinion provides more definitive criteria for determining whether an event or transaction should be reported as an extraordinary item. To be reported as extraordinary, an event or transaction must be clearly unrelated to the ordinary activities of the entity in the context of the environment in which it operates and must be of a type that is not expected to recur in the foreseeable future. Material unusual events or transactions which do not qualify as extraordinary items are, nevertheless, to be fully disclosed.