[Luna]

I heard that extraordinary items were removed from income statement, I also reviewed the book and I didn’t find anything, Where are them now? In footnotes? Or just disappear?

Thank you

[Biff-1955-Tannen]

Somebody correct me if I'm wrong, but it will just be classified under other income or expenses

AUD - 93
BEC - 83
FAR - 83
REG - 84

Nobody calls me chicken

AUD 93 Jan 16
BEC 83 Feb 16
FAR 83 Apr 16
REG 84 May 16

99% Ninja MCQ only

[monikernc]

I pulled this from page 10 here: https://www.fasb.org/resources/ccurl/147/382/ASU%202015-01.pdf
Unusual or Infrequently Occurring Items
225-20-50-3 The nature and financial effects of each event or transaction that is unusual in nature or occurs infrequently, but not both, or both shall be disclosed on the face of the income statement presented as a separate component of income from continuing operations or, alternatively, disclosed in notes to the financial statements.

there is probably more about when it appears in income statement versus disclosure but i fell asleep before i found it…

the F in FASB stands for Fascinating. don't you think?

AUD - 93
BEC - 82
FAR - 76
REG - 88

How have you been?
Ninja book and MCQs and the forum, all first try! 2016
Licensed State of Montana April Fool’s Day 2020
State of Colorado June 2020 - AICPA Ethics 93
Experience was the worst part of the journey for me. You?
If you want things to change you have to do something different.

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[Anonymous]

It's such a coincidence that I am currently studying (BEC) exceptional items that are included in the performance reports.

https://www.investinganswers.com/financial-dictionary/financial-statement-analysis/exceptional-item-3006

[Jeff01234567]

In one of the lectures for FAR, I think they said the idea of extraordinary items was gone and assimilated into income from continuing operations. Correct me if I'm wrong, I haven't looked at FAR since January

BEC - 83 Oct 23
FAR - 84 Jan 8
AUD - 81 Feb 26
REG - 84 May 23

[Spartans92]

@Jeff, I think that is correct. Vaguely remember but I do recall it going into the IDA mnemonic.

BEC - 76
REG- 67, 85
AUD-63, 74, 80!!
FAR-65, 62, 57, 79

3 down 1 more to go. BEC is on the Line 🙁

BEC- PASS

[Skynet]

The “Extraordinary Items” are currently studying for and taking the CPA Exams.

They will be come even more “Extraordinary” once they received those 3 letters.

AUD - 90
BEC - 78
FAR - 84
REG - 87

World Domination Plan

Phase I : Pass CPA Exams - Complete
Phase II : Megan Fox - In Progress
Phase III : Megan Fox & Scarlett Johansson Lingerie Pillow Fight
Phase IV : Form the new Charlie's Angels with Megan Fox, Scarlett Johansson, & Gal Gadot
Phase V : TBD

BEC : 78
REG : 87
FAR : 84
AUD : 90

World Domination Plan

Phase I : Pass CPA Exams - Complete
Phase II : Megan Fox - Initiated
Phase III : Bring back 8-Tracks
Phase IV : Megan Fox & Scarlett Johansson Lingerie Pillow Fight
Phase V : TBA

[jeff]

From NINJA Notes (formatting is messed up from cut & paste)

Unusual or Infrequent Items

o Formerly Extraordinary Items
o Two Options for Reporting

-Income Statement
• Above Income from Continuing Operations
-Footnotes to Financial Statements
o Change: No longer net-of-tax

o Treatment in Financial Statements
-Retrospective or Prospective Treatment
• Additional disclosures required for
previous extraordinary classifications

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[monikernc]

who copied and pasted from a ninja note?
oh, it was jeff. i see how that works. it is a top ninja supa powa
look ma! no CAPS. ooops. careless use of kryptonite.

AUD - 93
BEC - 82
FAR - 76
REG - 88

How have you been?
Ninja book and MCQs and the forum, all first try! 2016
Licensed State of Montana April Fool’s Day 2020
State of Colorado June 2020 - AICPA Ethics 93
Experience was the worst part of the journey for me. You?
If you want things to change you have to do something different.

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[jeff]

😉

AUD - 79
BEC - 80
FAR - 76
REG - 92

Jeff Elliott, CPA (KS)
NINJA CPA | NINJA CMA | NINJA CPE | Another71

[monikernc]

Busted. 😉

AUD - 93
BEC - 82
FAR - 76
REG - 88

How have you been?
Ninja book and MCQs and the forum, all first try! 2016
Licensed State of Montana April Fool’s Day 2020
State of Colorado June 2020 - AICPA Ethics 93
Experience was the worst part of the journey for me. You?
If you want things to change you have to do something different.

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[Skynet]

My definition is better : p

AUD - 90
BEC - 78
FAR - 84
REG - 87

World Domination Plan

Phase I : Pass CPA Exams - Complete
Phase II : Megan Fox - In Progress
Phase III : Megan Fox & Scarlett Johansson Lingerie Pillow Fight
Phase IV : Form the new Charlie's Angels with Megan Fox, Scarlett Johansson, & Gal Gadot
Phase V : TBD

BEC : 78
REG : 87
FAR : 84
AUD : 90

World Domination Plan

Phase I : Pass CPA Exams - Complete
Phase II : Megan Fox - Initiated
Phase III : Bring back 8-Tracks
Phase IV : Megan Fox & Scarlett Johansson Lingerie Pillow Fight
Phase V : TBA

[Biff-1955-Tannen]

@Skynet lol wow

I bet you're awesome at dad jokes

AUD - 93
BEC - 83
FAR - 83
REG - 84

Nobody calls me chicken

AUD 93 Jan 16
BEC 83 Feb 16
FAR 83 Apr 16
REG 84 May 16

99% Ninja MCQ only

[monikernc]

things are better with Skynet. things go better with Skynet. Skynet is just better at things.

AUD - 93
BEC - 82
FAR - 76
REG - 88

How have you been?
Ninja book and MCQs and the forum, all first try! 2016
Licensed State of Montana April Fool’s Day 2020
State of Colorado June 2020 - AICPA Ethics 93
Experience was the worst part of the journey for me. You?
If you want things to change you have to do something different.

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[monikernc]

come to think of it, Skynet is an extraordinary item and we would never reduce him to unusual or infrequent or ban him to the notes.

AUD - 93
BEC - 82
FAR - 76
REG - 88

How have you been?
Ninja book and MCQs and the forum, all first try! 2016
Licensed State of Montana April Fool’s Day 2020
State of Colorado June 2020 - AICPA Ethics 93
Experience was the worst part of the journey for me. You?
If you want things to change you have to do something different.

FAR 7/25/15 76!
AUD 10/30/15 93
BEC 2/27/16 82
REG 5/23/16 88!
Ninja Book and MCQ and the forum - all the way!!!
and a little thing i like to call, time and effort!
if you want things to change, you have to do something different

[Author]

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