APB 30 Reporting the Results of Operations—Reporting the Effects of Disposal of a Segment of a Business, and Extraordinary, Unusual and Infrequently Occurring Events and Transactions

INTRODUCTION
In APB Opinion No. 9, Reporting the Results of Operations, issued in 1966, the Board concluded that net income for a period should reflect all items of profit and loss recognized during the period except for certain prior period adjustments. The Opinion further provided that extraordinary items should be segregated from the results of ordinary operations and shown separately in the income statement and that their nature and amounts should be disclosed.