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- Topic: HELP PLEASE!!
| Author | Topic: HELP PLEASE!! |
|---|---|
| swift @2004-12-02 10:07:21 |
i've had conflicting views on this: p/l on retirement of debt. extraordinary item in gains/losses? yes/no? i've read 2 different appraisals of this. if anyone knows would be much appreciated |
| lemec @2004-12-02 12:33:47 |
Swift, Discrepancy is probably due to the dating of your sources. Up until recently loss or gain from early retirement of debt was considered a extraordinary item under SFAS 4. Since then SFAS 4 has been recinded and the resulting gain or loss from early retirement of debt is no longer considered extraordinary. Hope it helps |
| swift @2004-12-02 15:21:42 |
many thanks lemec. yep that would explain it . im doing it on the cheap(!!) with old notes etc. so now the gain/loss is considered operating? is that correct? Thanks and gl |
