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How should employee walkout be presented in IFRS or GAAP FS?

If a strike occurs that have financially impacted the company. How should it be treated under IFRS and GAAP Standards?

- Could they (and where should they) be separately reported?
- If they couldn't be separately reported, could they be disclosed in notes to financial statements?


asked Apr 24, 2017 in General Accounting Discussion by anonymous

1 Answer

0 votes
This loss is not an extraordinary item, since it is not unusual in nature. However, it can appear as a separate line item in the main portion of the income statement. It will be reported at its gross amount (not net of the tax savings).
answered Apr 24, 2017 by veshmalahotra Level 4 Member (9,780 points)