A loss from a plane crash could be classified as an extraordinary item by an airline.

Name: A loss from a plane crash could be classified as an extraordinary item by an airline.
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As of 2015, the Financial Accounting Standards Board (FASB) eliminated the concept of extraordinary items under US GAAP, meaning companies no longer separate these events in their financial reporting. Plane crashes would be considered unusual or infrequent but not extraordinary under the current guidelines.

A Loss from a Plane Crash Could Be Classified as an Extraordinary