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What is restatement?

by Billy Fowler (2017-11-20)


In financial reporting, it means a corporation's correction to the figures of former financial statements such as yearly reports, etc. It often happens when items on these statements have been estimated wrong, or when the accounting didn't satisfy certain accounting rules set forth by the exchange commissions. In any case, beware, it's usually no good sign! It might indicate attempted reporting fraud, or its possibility in the future. Assignment Help