Construct · 1 fields · 1 citations

restatement: a standalone construct

One name. One construct. A landmark on the map.

● anchor · a standalone construct Nearest construct by meaning·not indexed
restatement1 CONSTRUCTFinancial restatementPALMROSE ET AL. · 2004

A single standalone construct; nearby constructs are located against it in the Collider. Tap a field for its definition, unit, and measures.

Financial accounting

Reissuing prior statements to correct a misstatement

In financial accounting, a restatement is the revision and reissuance of previously published financial statements to correct a material error or misstatement, an admission that earlier numbers could not be relied upon that often moves the stock sharply and signals deeper accounting or governance problems. Palmrose, Richardson, and Scholz's 2004 Determinants of market reactions to restatement announcements examined why some restatements provoke larger market reactions than others. The referent is a corrective reissuance of a firm's financial reports, and it is unrelated to a legal body's orderly synthesis of common-law doctrine despite the shared word.[1]

Unit
A corrected reissuance of previously reported financial statements
Recovery means
Not applicable
Measured by
Studied through announcement returns, the size and nature of the error corrected, and later governance and audit outcomes

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Nearby constructs

acceptance6 fields · 14 citationsjingle · one name, six constructsagency cost / principal-agent4 names · 5 citationsjangle · one delegation problem, many homesattack4 fields · 10 citationsjingle · one word, four constructs

References

  1. Palmrose, Z.-V., Richardson, V. J., & Scholz, S. (2004). Determinants of market reactions to restatement announcements. Journal of Accounting and Economics, 37(1), 59–89. https://doi.org/10.1016/j.jacceco.2003.06.003

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