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Extra ordinary item (net of tax effect)

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Querist : Anonymous (Querist)
07 February 2012 Experts,

What is meant by Extra Ordinary Item (Net of Tax Expense)

Please make me understand.
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CS, Deepak Pratap Singh

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CS, Deepak Pratap Singh (Expert)
07 February 2012 Extra Ordinary Items are income or expenses aroused not due to ordinary business transactions of an entity. According to AS 5 Extra Ordinary items should be shown at seperate place in the Balance Sheet to shwon its total effect.

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