Conditions For Use Of Non-GAAP Financial Measures-Securities And Exchange Commission
- Topics:
- GAAP
- Tags:
- Amendment,
- Commission,
- Finance,
- Financial,
- Financial Accounting,
- GAAP,
- non-GAAP
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Overview: As directed by the Sarbanes-Oxley Act of 2002, the new rules and amendments to address public companies' disclosure or release of certain financial information that is calculated and presented on the basis of methodologies other than in accordance with generally accepted accounting principles (GAAP). A new disclosure regulation, Regulation G, which will require public companies that disclose or release such non-GAAP financial measures to include, in that disclosure or release, a presentation of the most directly comparable GAAP financial measure and a reconciliation of the disclosed non-GAAP financial measure to the most directly comparable GAAP financial measure. The amendments to Item 10 of Regulation S-K and Item 10 of Regulation S-B to provide additional guidance to those registrants that include non-GAAP financial measures in Commission filings. Additionally, we are adopting amendments to Form 20-F to incorporate into that form the amendments to Item 10 of Regulation S-K. Finally, there are adopting amendments that require registrants to furnish to the Commission, on Form 8-K, earnings releases or similar announcements.
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Format: HTML | Date: Jan 2003 | Pages: 1
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