Examlex
The most commonly used type of rectifier is the
Retroactively Adjusted
Adjustments made to financial statements or other data for previous periods in light of new information or to correct errors.
Consolidation Adjustments
Adjustments made to eliminate transactions between entities within a consolidated group, ensuring that the consolidated financial statements present a group as a single economic entity.
Consolidated Financial Statements
Financial statements that present the assets, liabilities, equity, income, expenses, and cash flows of a parent company and its subsidiaries as a single entity.
Double Counting
The error of including the same item or financial transaction more than once in a calculation or analysis, leading to inaccurate results.
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