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Investments glossary

Quasi-Reorganization


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Quotes of the day:

First responders did not find any drug paraphernalia or illegal drugs at the residence, the cause of death into Jackson Odell is pending an autopsy and toxicology report.

— Assistant Chief Coroner Ed Winter

A quasi-reorganization is a relatively obscure provision under U.S. GAAP which provides that under certain circumstances, a firm may eliminate a deficit in its retained earnings account by restating assets, liabilities, and equity in a manner similar to a bankruptcy. A firm’s stockholders must agree to allow the accounting change, which essentially resets the firm’s books as though a new company had incurred the assets and liabilities of the old firm.


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