The term ‘Infrequent in Occurrence” is a phrase used to denote the situation where the underlying events or transactions which affected any part of a business would reasonably not be expected to recur in the foreseeable future, taking into account the environment in which the entity operates. Such occurrences may affect production, pricing revenue, costs etc. which can affect the fair market value of the business or interest being valued. Business valuation analysts adjusts financial statements to normalise revenue, costs, earnings, taxes and other items on the income statement as well as assets and liabilities in balance sheet to take off the effects of such unusual occurrence and restate the financial statements. This is an important step in the business valuation analytical process to ensure that the conclusion of value is not affected by one of events which can mislead the accuracy of the estimated fair market value.