subsequent events

subsequent events definition - business

subsequent events

Material events that occur between the date of a firm's financial statements and the date on which the financial statements are released. For example, a firm may have become involved in litigation subsequent to the date of the financial statements. Some subsequent events result in adjustments being made in the financial statements, while other subsequent events require only that the events be disclosed.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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