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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VISION is a concise written statement defining the mid-long term (3-5 year) strategy of the organization. The vision is the summary statement of how the organization wants/intends to be perceived by the world. The statement is external/market oriented, brief (1-3 sentences), and stated in “visionary,” colorful terms. Example: “Become the respected leader in financial services with a focus on end-to-end customer relationships and satisfaction, resulting in optimized balance sheets for our partners.”

L as the fifth letter of a Nasdaq stock symbol indicates that the issue is a class of stock such as: preferred when issued, third preferred class of warrants, sixth class of preferred stock, or foreign preferred.

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