What is retroactively?

Retroactively means that something is being applied or implemented after the fact. In other words, it is a way of looking at something in the present from the perspective of the past. Retroactive changes or actions have effect on something that has already happened, rather than on something that will happen in the future. Retroactive laws, for example, apply to past events and can be used to alter the legal or financial status of transactions that have already been completed. Retroactive accounting, on the other hand, is the process of reconciling financial records after the fact, often to correct errors or irregularities discovered in the past. Retroactive analysis is also commonly used in research and planning to analyze historical data in order to identify trends, patterns or insights for future decision-making.