Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

What are the items called "below the line" in GAAP?

user-image
Question added by Rehan Qureshi , Financial Consultant , Self Employeed
Date Posted: 2016/01/10
Rehan Qureshi
by Rehan Qureshi , Financial Consultant , Self Employeed

Under GAAP, below-the-line items are those items listed on the income statement that are "below" income from continuing operations. Two categories of items are presented below the line:1. Discontinued Operations - Net income (loss) from business segments that have been or will be disposed of or sold, including any gain (loss) on net assets of that segment in the current period.2. Extraordinary items - Gains (losses) from events that are both unusual and infrequent in nature. 

Muhammed Afsal kodasseri
by Muhammed Afsal kodasseri , ASSISTANT ACCOUNTANT , KALLIYATH SANITATIONS

In Generally Accepted Accounting Principles include Operating Expenses,Interest and Taxes

 

Murtaza Mohammed
by Murtaza Mohammed , Accountant General , Gargash Motors & General Trading LLC

Common principle company follow the accounting principle, Standard to prepare the financial statement

manseer muhammed ali
by manseer muhammed ali , Accountant General , Royal Lighting L.L.C & Royal Furnishing LLC

Below the line are operating expenses, interest, and taxes.

Nasiha Abdul Nasar
by Nasiha Abdul Nasar , Accountant , AL BURJ HOLDINGS LLC

The items such as operating expenses,interest and taxe are called below the line items in GAAP.

More Questions Like This