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Under FRS 105 - Exceptional Items

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Hi all,

I hope you're all keeping well, considering the whole pandemic :-)

I was wondering if anyone could help answer a query, as I'm struggling to find an answer.

Under FRS 105 would a loan write off, asset write off, assignment of assets be considered an exceptional item and should you header this that or still keep this under "depreciation and other amounts written off assets" and under the detailed P&L have the ledger header disclsoed as an exceptional item?

I'm having a debate with a client service officer about its heading etc.


Thank you in advance :-)

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By paul.benny
28th Jul 2020 11:47

There is no provision in FRS105 for exceptional items but that doesn't prohibit making additional disclosures.

Given that this is an unusual one-off expense, I would certainly choose to highlight it.

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