The rise and demise of abnormal items

Cameron, Robyn & Gallery, Natalie (2008) The rise and demise of abnormal items. Australian Accounting Review, 18(44), pp. 63-70.

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Before 2001, Australian companies reported abnormal items on the face of the income statement or by way of note. In response to perceived abuses in classifying items as abnormal, AASB 1018 was reissued in October 1999 with the reference to abnormal items removed. We analyse the implications of the changes to accounting standard requirements relating to abnormal items, and examine whether there is empirical evidence of opportunistic classification of operating profit items as abnormal. Our results suggest that some companies may have opportunistically classified large expense items as "abnormal" to boost their reported "normal" earnings number.

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4 citations in Scopus
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1 citations in Web of Science®

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ID Code: 13390
Item Type: Journal Article
Refereed: Yes
Keywords: Financial reporting, Accounting standards, Abnormal items, Special items, Earnings management
DOI: 10.1111/j.1835-2561.2008.0007.x
ISSN: 1035-6908
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > ACCOUNTING AUDITING AND ACCOUNTABILITY (150100) > Financial Accounting (150103)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Copyright Owner: Copyright 2008 Blackwell Publishing
Copyright Statement: The definitive version is available at
Deposited On: 30 Apr 2008 00:00
Last Modified: 29 Feb 2012 13:41

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