Clear, consistent, and comparable presentation of a company’s financial condition is a hallmark of transparency in U.S. trading markets. Thus, regulatory attention often focuses on instances where companies stray from using generally accepted accounting principles (GAAP) and report non-GAAP measures in financial statement filings with the U.S. Securities and Exchange Commission (SEC). The SEC’s December…
This report reviews recently released U.S. Securities and Exchange Commission (SEC) comment letters related to the use of non-generally accepted accounting principles (non-GAAP) financial measures in mandated financial reporting for U.S. publicly traded companies. To help provide compliance guidance, this report provides excerpts of SEC staff comment letters related to topics discussed as questions in…
In this opinion piece for Accounting Today, Ron Kral of Kral Ussery uses CompanyIQ comment letter data to suggest that companies need to be ready for ESG disclosures. Below is an excerpt. While the environmental, social and governance arena may soon see a seismic shift in disclosure requirements, there has been no shortage of regulatory…