overstates definition
Reports too much. If an error overstates the inventory and the company's net income, the amount of inventory and the amount of net income being reported is more than the correct amount.
Reports too much. If an error overstates the inventory and the company's net income, the amount of inventory and the amount of net income being reported is more than the correct amount.
Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the sole author of all the materials on AccountingCoach.com. Read more about the author.