International Financial Reporting Standards

International financial reporting standards

A) have stricter requirements than U.S. GAAP for determination of extraordinary items.
B) have weaker requirements than U.S. GAAP for determination of extraordinary items.
C) allow the reporting of extraordinary items only if a company has been profitable for five years.
D) do not allow an extraordinary items section on the income statement, but encourage such items to be shown in a separate footnote disclosure to the financial statements.
E) do not allow presentation or disclosure of extraordinary items in the financial statements.