Definitions

1. verb

to classify or reassign something to a different category or class

“The company decided to reclass the employee’s job title to reflect their new responsibilities.”

2. verb

to change the classification or status of something, such as an asset or a liability, for accounting or tax purposes

“The accountant had to reclass the company’s assets to meet the new financial reporting standards.”

3. noun

the act of reclassifying something

“The reclass of the company’s assets led to a significant change in their financial position.”