Financial Corrections

Restatement
Correction of a previously issued financial statement due to an accounting irregularity or misrepresentation. While restatement can result from honest error, the practice gained notoriety during the wave of corporate scandals in the early 2000s.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.