RESTATEMENT OF FINANCIALS Definition

Bookmark and Share

RESTATEMENT OF FINANCIALS are sometimes required by the IRS when the IRS, through audit, determines that IRS rules were not followed; either lawfully or fraudulently. Such restatements usually have a negative effect on the financial results of the audited entity for the periods in question.

Learn new Accounting Terms

SELL-THROUGH, in retail sales, is the number of product distributed that are actually sold, e.g. movies sold as compared to rented.

IBA, among others, can mean: Individual Brokerage Account, Individually Billed Accounts, Institute of Business Appraisers, International Bar Association, or, International Business Advisors.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.