The company in a statement said that it has corrected its consolidated financial statements as on December 31, 2012, in which the comparative figures for 2011 were restated and the opening balance sheet for the year was corrected.
What does OB stand for?
OB stands for Opening Balance (financial management)
This definition appears very frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of OB
We have 18 other meanings of OB in our Acronym Attic
- Old Bill (UK police)
- Old Boy
- Olfactory Bulb
- On Board
- Onlinebandit (gamesite)
- Open Along Bit Lines
- Open Billing
- Open Box
- Open Box (gaming clan)
- Open Burning (outdoor fire regulation)
Samples in periodicals archive:
It launched the account, which has a minimum opening balance of pounds 100, a year ago in response to the appetite shown for a more traditional offering.
Although the minimum opening balance is pounds 3,000, interest paid from pounds 1 is tiered at pounds 10,000 and paid on the anniversary of the account opening and at maturity.
If HM Revenue and Customs now chose to examine the bona fides of all original cash deposits in internet betting accounts, and were to make the exchange operators responsible for the tax on any dubious opening balances, then the majority of exchange sites would probably close overnight.
The calculation of the tax deduction will begin with the "equity capital" as stated in the company's opening balance sheet of the taxable period.