Irregular items on the income statement

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  Since the results of discontinued operations, extraordinary items, and changes in accounting principles, by definition, are irregular and infrequent in occurrence, such items are separately identified on the Income Statement. 2.

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• Irregular Items and Horizontal Analysis

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  Who in the organization is responsible for the application of a change in an accounting principle? Why? Irregular items are those items that will most likely not reoccur on the income statement.