To record an extraordinary
loss. Gains are recorded in account 437700-Extraordinary Gain.
Extraordinary items are transactions or other events that are both unusual
in nature and infrequent in occurrence. (Note: Prior to 7-1-2001,
this account was for use only by proprietary funds. Effective 7-1-2001
with the implementation of the new reporting model under GASB 34, this
account may be used by any fund type.)
535710 Loss-Refunding of Debt
Effective
for the year ended 6/30/2002, with the implementation of the new reporting
model under GASB 34, this account is no longer valid.
535750 Special Items - Loss
Significant transactions
or other events within the control of management that are either unusual
in nature or infrequent in occurrence. (GASB 34 Par. 56) Use
account 437750 for special items - gains.
