Audit opinion stating that, except for the effect of a matter to which a qualification relates, the financial statements are fairly presented in accordance with generally accepted accounting principles (GAAP). The auditor qualifies the opinion when there is a scope limitation.
Qualitative
Relating to quality, especially as distinguished from quantity or amount.
Qualitative Analysis
Analysis that evaluates important factors that cannot be precisely measured.
Quality
An operating environment in which a company’s product or service meets a customer’s specifications the first time it is produced or delivered.
Quantitative Analysis
Analysis dealing with measurable factors as distinguished from qualitative considerations such as the character of management or the state of employee morale.
Quantity
An amount or number.
Quarter
Three-month intervals of the year.
Quarterly Reports
Another term for interim financial statements.
Quasi-Reorganization
Type of reorganization in which, with shareholder approval, the management revalues assets and eliminates the deficit by charging it to other equity accounts without creating a new corporate entity or court intervention.
Quick Assets
Assets that are or are expected to be converted into cash in the near term: cash, accounts receivable, short-term investments.
Quick Ratio
The relationship of a company’s quick assets to its current liabilities.
