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Finance Dictionary and Glossary of Investment Terms
A non-recurring event that materially affected a company's finances in a reporting period. Must be explained in the annual report or quarterly report.
Gains or losses included in a company's financial statements, which are infrequent and unusual in nature. These are usually explained further in the "notes to the financial statements."
unusual and unexpected one-time event that must be explained to shareholders in an annual or quarterly report, e.g., employee fraud, a lawsuit, etc.