Exceptional item

Financial reporting

In financial reporting, an 'exceptional' item is one that requires separate additional disclosure for the financial information to give a fair presentation of the reporting entity's results.

Examples include substantial disposals, restructuring or discontinued operations.

Exceptional items might, for example, be disclosed as separate lines, or separate columns, in the income statement.

Alternative appropriate disclosure might be to deal with the exceptional item or items within a note to the financial statements.

See also

• Disclosure
• Exception
• FRS 102
• IAS 1
• Income statement
• Materiality
• Reporting