More On Non-GAAP

Valeant – the new poster child for impermissible non- GAAP reporting. Last week the SEC informed Valeant Pharmaceuticals that their use of certain non-GAAP financial measures was “potentially misleading.” The company strips out acquisition-related costs from many traditional measures, despite having...

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Sec Frowns On Non-GAAP Disclosures

The SEC is removing the gap between non-GAAP and GAAP. This week they issued new guidance that non-GAAP measures can only be used if compared with GAAP measures – and on equal footing.  Guidance includes not putting the non-GAAP measure before...

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