| 45 | By definition, exceptional items are unusual in nature and significant in amount. They rarely extend over more than one year and it is not generally appropriate to allocate their effect to different parts of the reporting period. They should be recognised and disclosed in the profit and loss account of the interim period in which they occur. Certain exceptional items should be shown separately after operating profit and before interest as required by paragraph 20 of FRS 3. They are: |
| 46 | Other exceptional items should be charged or credited in arriving at the profit or loss on ordinary activities by inclusion under the statutory headings to which they relate. In addition, they should be disclosed and described by way of a note. |
| 47 | The tax effects of exceptional items disclosed on the face of the profit and loss account, in accordance with paragraph 45 above, should be separately disclosed in the profit and loss account or a related note. |
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