restatement

re·state   (rē-stāt')    tr.v.   re·stat·ed, re·stat·ing, re·states To state again or in a new form. See Synonyms at repeat. re·state'ment n.

Restatement

A revision in a company's earlier financial statements.

Investopedia Commentary

The need for restating financial figures can result from fraud, misrepresentation, or a simple clerical error.

See also: Cook The Books, Cookie Jar Accounting, Voodoo Accounting

restatement

The altered presentation of a portion or all of an earlier financial statement. For example, a firm may issue a restatement of its previously published balance sheet and income statement because it has discovered some heretofore unknown information that should have been included on it.

Main Entry: Re·state·ment
Pronunciation: "rE-'stAt-m&nt
Function: noun
: any of several volumes produced by the American Law Institute and authored by legal scholars and experts that set forth statements of major areas of law (as contracts, torts, trusts, and property) and are widely referred to in jurisprudence but are not binding