Non-GAAP company performance measures are growing in prominence. Is this a good thing for investors who rely so strongly on accounting numbers for evaluating performance and valuing businesses? A recent CFA Institute webinar explored the issue.
Jason Voss, CFA, curates articles on a broad range of subjects, from new accounting standards, to important policy changes in China, to bribed scientists, to images of supernovae.
Traditional corporate reporting has been the subject of much criticism, as it has not really been effectively and efficiently communicating the current conditions, issues, and outlook of a corporation's business with shareholders, creditors, and other stakeholders. A different approach — integrated reporting — has been designed to fill the gap, and a global movement is underway to make the norm.
Steven J. Sherman discusses the role of the International Valuation Standards Council and how it differs from that of the accounting standard setters. Mr. Sherman also provides his thoughts on the large number of restatements by public companies in recent years due to valuation issues.
Effective 1 January 2011, the International Financial Reporting Standards (IFRS) became mandatory for Canadian public companies. Proponents of IFRS adoption argued that it would enhance global comparability of financial statements. The authors of Swindlers: Cons & Cheats and How to Protect Your Investments from Them argue, on the contrary, that “differences in laws, regulations, taxes, cultures, education, ethics, training, traditions, enforcement, and optimism make uniformity an opium dream.”
A few months ago, I wrote about how Groupon had been using a non-GAAP accounting metric, “adjusted consolidated segment operating income” (CSOI), to explain its past performance — a practice the online… READ MORE ›
Yin Toa Lee, CFA, reviews the new global regulatory initiatives and changing accounting standards and their business impacts on Asian financial institutions. He discusses what board, management, and audit committees should be doing today to prepare for such significant changes, including issuing communications to the investor and analyst communities.
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