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Big R Restatement

A type of accounting restatement that involves the correction of a material error to the prior period financial statements, requiring...

Revision Restatement

A type of accounting restatement that involves the correction of an immaterial error to the prior period financial statements. Notwithstanding...

Little R Restatement

A type of accounting restatement that involves the correction of an immaterial error to the prior period financial statements. Notwithstanding...

Restatement of a Financial Statement

The revision and re-release of the financial statements of a prior period because of changes in accounting principles arising out...

Accounting Restatement

The revision and re-release of the financial statements of a prior period because of changes in accounting principles arising out...

Restatement

The revision and re-release of the financial statements of a prior period because of changes in accounting principles arising out...

Reclassification

The change in the classification of a financial asset due to a change in an entity's business model (BM) or...

Reclassification Date

The first day in the reporting period in which a new or changed business model (BM) is applied by an...

Measurement Date

The date at which the value of an asset/ a liability (or broadly, an item) is determined taking into consideration...

Distress Sale

The sale of assets, such as inventory items, securities and property, in a hurry and typically at a loss (at...