What is meant by Special items?
The term "special items" refers to specific balance sheet positions in finance that are reported between equity and liabilities. In retail practice, it also denotes goods sold at special conditions.
Typical software functions in the area of "special items":
- Accounting: Recording and reporting of special items in the balance sheet
- Dissolution: Automatic dissolution of special items over defined periods
- Categorization: Classification of special items by type and origin
- Reporting: Generation of reports on special items for financial management
- Integration: Linkage with other financial accounting modules
- Inventory management: Management of special items in retail, including pricing and stock control
Examples of "special items":
- Investment grants: Government funding for capital investments
- Construction cost subsidies: Contributions from residents for infrastructure projects
- Trust assets: Managed assets for third parties
- Perpetual grave care: Fees received in advance for long-term grave maintenance
- Remnants: Goods with defects or from surplus stock
- Seasonal overstock: Previous season's items at reduced prices