Wednesday August 31 2016
Firms have been routinely reporting prettied up non GAAP earnings reports. This of course is contrary to what the SEC via the FASB would prefer. In intermediate accounting we study Generally Accepted Accounting Principles.
Firms have been generally ignoring them in favor of their own customized version of what happened. Read this article to learn that more firms are now coming back to the basics, which is GAAP accounting rules.
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