Extraordinary Items and Ratio Analysis

Can you please describe some of the types of current assets and current liabilities? When we are calculating the ratios we need to determine which numbers to use in our calculation. Gross profit reflects the profit earned before the cost of goods sold but we must remember the net income is what we deliver to our shareholders at the end of the day. We must examine our expenses to determine if we need to reduce those expenses.

Some organizations only grow by acquisition's. If this is a frequent occurrence for the organization how does this meet an extraordinary item? Please explain.