EXTRAORDINARY ITEMS Definition

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EXTRAORDINARY ITEMS are material items that are unusual in nature and occur infrequently. Both characteristics must exist for an item to be classified as an extraordinary item on the income statement.

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BOOK ENTRY TRANSACTION, in securities, is a transaction that does not entail physical transfer of paper securities. An entry is made on the books of a safekeeping depository showing the beneficial owner of the securities. This has become a standard transaction method for all U.S. Treasury, many U.S. Government agency securities and many tax­able and tax-exempt instruments.

BRETTON WOODS is the site in New Hampshire, U.S., of an international conference in 1944 which resulted in the establishment of the World Bank and the International Monetary Fund.

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