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How should an unusual event not meeting the criteria for an extraordinary item be disclosed in the financial statements?

Answer:

I imagine that you are thinking in terms of a one-time-only, never-to-be-repeated, paid-at-once expense that you don't have an expense account for? How about setting up an expense account for this? It need not be an account that is used all the time, but it will assist with the tracking of the 'event' that occurred. On the other hand, you could be talking about an 'event' that is going to need recording over several accounts and over a period of time. Can you provide more details?

First answer by ID1255284665. Last edit by ID1255284665. Question popularity: 1 [recommend question].

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