In financial accounting, and extraordinary item is a one-time event that materially...
A non-recurring item which shows gains or losses outside normal business activities that is shown in the profit and loss account and affect the balance sheet. It can be, for example, the sale of property or loss from selling part of the company. See Exceptional Item.
An unusual and unexpected one-time event that must be explained to shareholders in an annual or quarterly report, e.g., write down for a discontinued operation, employee fraud, a lawsuit, or other one-time events. Results are often presented with and without these items. The logic of excluding these items is that investors a better notion of future performance if one-time events are excluded.
Income and expense items associated with events and transactions that possess a high degree of abnormality and are of a type that would not reasonably be expected to recur in the foreseeable future.
An irregular event, such as a division write-off or acquisition of another company, that needs to be explained to shareholders in an annual or quarterly report. Earnings will normally be calculated and reported before the effect and after the effect of extraordinary items. See: Write-Off
Non-recurring items which are not in the normal course of business activities and do not depend primarily on decisions made by management.