TERMINOLOGY, FORMS & METHODS OF PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS. COPYRIGHT RODERICK SEEMAN

Subchapter 5. Extraordinary Profits and Extraordinary Losses

Article 62. Methods of Entry of Extraordinary Profits Profits belonging to extraordinary profits must be entered with an item with a name showing the said profit in accord with the classification of items of revision of previous term earnings, gains on sales of fixed assets, or others. Provided, however, that from among those profits, concerning those which are 10% or less of total extraordinary profits and which are deemed suitable to be entered in a lump sum, it is permissible to make entries with item names showing the said combination of such profits.