Question

How do I find if a company reported any special, unusual, or otherwise non-routine items in either current or prior years net income?

Answer 1

In the multiple step income statement, a separate line item for special, unusual or otherwise non-routine items, is presented. It is presented before income before unusual items and tax or after all operating and non operating incomes and expenses have been reported. Special, unusual or otherwise non- routine items are shown separately in the income statement to show them separately for routine or usual items. If the special, unusual or otherwise non routine items are related to prior years, then they are adjusted in the beginning balance of retained earnings.