TURNAROUND Definition

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TURNAROUND is the reversal of unfavorable circumstances of a business where an investment opportunity may exist. A firm may work with such a business to restructure the management and finances in order to take the greatest advantage of more favorable circumstances. There are organizations like the Turnaround Management Association that specialize in turning around failing companies.

Learn new Accounting Terms

QUARTERLY REPORT see INTERIM STATEMENT.

SHIPPING DOCUMENT is a document prepared when goods are shipped. It lists the date shipped, the customer, method of shipment, and quantities and specifications of goods shipped.

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