Some items on income statements are reported separately ... to be classified as extraordinary items, however, GAAP no longer ...

Statements required by Generally Accepted Accounting Principles (GAAP) are the balance sheet, the income statement, and the statement of cash flows. The balance sheet provides an overview of ...

Some items on income statements are reported separately ... to be classified as extraordinary items, however, GAAP no longer requires this classification to reduce the cost and complexity of ...