quasi-reorganization love

quasi-reorganization

Definitions

from Wiktionary, Creative Commons Attribution/Share-Alike License

  • n. A corporate accounting procedure in which recapitalization is achieved by the elimination of the existing deficit and the establishment of a new earned surplus account for future earnings only.

Etymologies

Sorry, no etymologies found.

Examples

  • Bakrie & Brothers executives said they have been trying to remedy that situation through what they call a "quasi-reorganization."

    Bakrie & Brothers Steps Up Overhaul

  • "Through this quasi-reorganization we will become like a newborn baby," said Bobby Gafur Umar , Bakrie & Brothers president director and chief executive officer, in an interview.

    Bakrie & Brothers Steps Up Overhaul

  • Therefore, the Company's Board of Directors authorized management to effect a quasi-reorganization in accordance with Section 210 of the Codification of Financial Reporting Policies.

  • Giving effect to the quasi-reorganization, the Company has eliminated its accumulated deficit account, with a commensurate reduction in its additional paid-in capital, for purposes of establishing a new earned surplus account for the accumulation of future earnings from current operations.

  • A quasi-reorganization is an elective accounting method used to eliminate the deficit in retained earnings against additional paid-in capital combined with fair market value adjustment to assets and liabilities.

  • The quasi-reorganization was effective as of December 31, 2010.

  • The quasi-reorganization adjustments have no effect on the Company's cash flow and result in a balance sheet that more accurately reflects the Company's retained earnings.

  • Further, the quasi-reorganization provides a more meaningful balance sheet, which will better reflect the progress in our current and future business operations.

  • (NYSE Amex: EGT) ("Entertainment Gaming Asia" or "the Company"), a leading provider of electronic gaming machines on a participation basis to the Pan-Asian gaming industry, today announced that it will reschedule reporting operating results for the fourth quarter and fiscal year ended December 31, 2010 from March 1, 2011 to March 11, 2011 in order to complete an accounting quasi-reorganization.

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