exceptional item
Items in the profit and loss account, derived from within the ordinary activities of the company that are not expected to occur regularly. They are typically profits or losses recorded by selling businesses, or charges incurred in closing activities down.
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

  • exceptional item — A transaction separately reported or disclosed in an *income statement on account of its *materiality unusual nature, or infrequency Exceptional items arise from normal operating activities, and examples may include the write off of a significant …   Auditor's dictionary

  • Exceptional Item — Charges incurred that must be noted on a company s balance sheet, in accordance with GAAP principles. Even though they are considered to be part of ordinary business charges, exceptional items must be disclosed due to their sheer size or… …   Investment 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

  • exceptional items — Part of a company s profit and loss account. Items which are material, derived from events or transactions within a company s ordinary activities and which need to be disclosed separately to ensure that the company s accounts give a true and fair …   Financial and business terms

  • exceptional — adjective unusual; not typical. ↘unusually good. noun an item in a company s accounts arising from its normal activity but much larger or smaller than usual. Derivatives exceptionality noun exceptionally adverb …   English new terms dictionary

  • 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 …   Financial and business terms

  • 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

  • above the line — aˌbove the ˈline , above the line adjective 1. ACCOUNTING relating to a figure included in a statement of a company s profits and losses before tax has been paid, not after tax: • The acquisitions will be treated as above the line exceptional… …   Financial and business terms

  • below the line — beˌlow the ˈline , below the line adjective 1. ACCOUNTING relating to profits after exceptional (= profits and losses that are made in a particular period of time but do not occur regularly) have been taken into account: • Provisions on doubtful… …   Financial and business terms

  • Renishaw plc — is an engineering company based in Wotton under Edge in Gloucestershire, England. Renishaw is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.Renishaw specialises in industrial metrology and spectroscopy and sells… …   Wikipedia

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