When is a gain on troubled debt modification extraordinary?

  • Creator
    Topic
  • May 28, 2015 at 4:11 pm #194370
    Mole351
    Participant

    Disregarding the gain/loss on asset if one is exchanged – is the gain on the debt restructure itself always considered extraordinary? Seems I have seen it both ways and not specified in the problem if it meets extraordinary criteria…

    Any insight appreciated!

    FAR - 87 (5/15)
    AUD - 93 (8/15)
    REG - 86 (2/16)
    BEC - 87 (5/16)

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