Retroactive Adjustment
Barron's Business Dictionary:
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Retroactive Adjustment
1. restatement of prior years’ financial statements to show financial data on a comparable basis.
2. prior period adjustment.
| Retroactive, Retirement Plan, Retirement Income | |
| Return, Return On Equity, Return On Invested Capital |
Barron's Accounting Dictionary:
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Retroactive Adjustment
1. restatement of prior years' financial statements to show financial data on a comparable basis, such as in the case of a change in reporting entity.
2. prior period adjustment. Retroactive pension benefits should not he recognized as pension expense in the year of adoption or amendment to a pension plan but should be recognized during the service periods of those employees who are expected to receive benefits under the plan. The cost of this retroactive adjustment benefit is the increase in the projected benefit obligation at the amendment date.
| Retirement of Debt, Retirement Method of Depreciation, Retirement | |
| Retroactive Application, Return On Assets, Return On Assets Pricing |
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Barron's Business Dictionary
Dictionary of Business Terms. Copyright © 2007 by Barron's Educational Series, Inc. All rights reserved.
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