Goto Section: 32.7500 | 32.7899 | Table of Contents

FCC 32.7600
Revised as of October 1, 2008
Goto Year:2007 | 2009
  Sec.  32.7600   Extraordinary items.

   (a)  This  account  is  intended to segregate the effects of events or
   transactions that are extraordinary. Extraordinary events and transactions
   are distinguished by both their unusual nature and by the infrequency of
   their occurrence, taking into account the environment in which the company
   operates. This account shall also include the related income tax effect of
   the extraordinary items.

   (b)  This  account  shall  be credited and/or charged with nontypical,
   noncustomary and infrequently recurring gains and/or losses which would
   significantly  distort  the current year's income computed before such
   extraordinary items, if reported other than as extraordinary items.

   (c) This account shall be charged or credited and Account 4070, Income
   taxes—accrued, shall be credited or charged for all current income tax
   effects (Federal, state and local) of extraordinary items.

   (d) This account shall also be charged or credited, as appropriate, with a
   contra amount recorded to Account 4350, Net noncurrent deferred nonoperating
   income taxes or Account 4110, Net current deferred nonoperating income taxes
   for the income tax effects (Federal, state and local) of extraordinary items
   that have been deferred in accordance with  Sec. 32.22.

   [ 67 FR 5700 , Feb. 6, 2002]


Goto Section: 32.7500 | 32.7899

Goto Year: 2007 | 2009
CiteFind - See documents on FCC website that cite this rule

Want to support this service?
Thanks!

Report errors in this rule. Since these rules are converted to HTML by machine, it's possible errors have been made. Please help us improve these rules by clicking the Report FCC Rule Errors link to report an error.
hallikainen.com
Helping make public information public