What is backdating

Posted by / 15-Sep-2017 00:46

What is backdating

For example, if a seller had sold his house in December then the seller could have taken advantage of certain tax benefits.However, he only realizes this in January and so wishes to backdate the document to December.For instance, one may backdate an insurance claim if there was an unavoidable delay between the date the insured event occurred and the day the claim was made.The practice of allowing a mutual fund shareholder to use previous purchases of the fund's shares so as to qualify for reduced commission charges on subsequent purchases.

Does he need to check to see whether that was actually the case or can he take an ostrich-like position and put his head in the sand and not ask any questions?The act of dating a document before the date it was actually signed.For example, if one signs a contract on February 1, one may backdate it to January 31.Backdating is used when a fund offers declining proportional sales charges on larger purchases.Option backdating scandals: how management accountants can help: backdating of employee stock options can have a significant negative effect on a public company.

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If the date of the oral agreement was reached is somehow significant, then mention it in the recitals of the written contract.

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