5357XX - Extraordinary & Special Items
- 535700 Extraordinary Loss
- To record an extraordinary loss. Gains are recorded in account 437700-Extraordinary Gain. Extraordinary items are transactions or other events that are both unusual in nature and infrequent in occurrence. (Note: Prior to 7-1-2001, this account was for use only by proprietary funds. Effective 7-1-2001 with the implementation of the new reporting model under GASB 34, this account may be used by any fund type.)
- To record an extraordinary loss. Gains are recorded in account 437700-Extraordinary Gain. Extraordinary items are transactions or other events that are both unusual in nature and infrequent in occurrence. (Note: Prior to 7-1-2001, this account was for use only by proprietary funds. Effective 7-1-2001 with the implementation of the new reporting model under GASB 34, this account may be used by any fund type.)
- 535710 Loss-Refunding of Debt
- Effective for the year ended 6/30/2002, with the implementation of the new reporting model under GASB 34, this account is no longer valid.
- Effective for the year ended 6/30/2002, with the implementation of the new reporting model under GASB 34, this account is no longer valid.
- 535750 Special Items - Loss
- Significant transactions or other events within the control of management that are either unusual in nature or infrequent in occurrence. (GASB 34 Par. 56) Use account 437750 for special items - gains.