|Author||Topic: HELP PLEASE!!|
|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
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
|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