AuthorTopic: 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

CFA Discussion Topic: HELP PLEASE!!

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