Publication Date
Spring 1990
Abstract
The notion of extraordinary items has been clearly defined since the Accounting Principles Board issued "Reporting the Results of Operations," Opinions of the Accounting Principles Board No. 30 in 1973. The opinion established the criteria of infrequency and unusualness for extraordinary item treatment. In addition, the opinion discussed the proper presentation of extraordinary items in an income statement format. Although extraordinary item treatment is a well-understood concept, little has been written about the forces and developments that led to the issuance of Opinion No. 30. The purpose of this paper is to review the historical developments that led to the evolution of the extraordinary item concept.
Recommended Citation
Hall, Jack O. and Aldridge, C. Richard
(1990)
"Historical evolution of the extraordinary item concept,"
Accounting Historians Notebook: Vol. 13:
No.
1, Article 23.
Available at:
https://egrove.olemiss.edu/aah_notebook/vol13/iss1/23