Nonrecurring Occurrence

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August 25, 2024 4 min read Definitions
Extraordinary Item: Definition and Explanation
Finance Accounting Extraordinary Item Nonrecurring Occurrence Financial Reporting Shareholders Financial Conditions
An extraordinary item is a nonrecurring occurrence that must be explained to shareholders in an annual or quarterly report. Examples include the write-off of a division, acquisition of another company, sale of a large amount of real estate, or uncovering employee fraud that negatively affects the company's financial condition.
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