SEC Adopts Final Rules Relating to Use of Non-GAAP Financial Measures and Earnings Releases
- Topics:
- Regulatory issues
- Tags:
- Finance,
- Financial,
- Financial Accounting,
- Financial Information,
- GAAP,
- non-GAAP,
- Pillsbury Winthrop,
- SEC
- Source:
- Pillsbury Winthrop
FREE Registration is required
Overview: On January 15, 2003, the Securities and Exchange Commission (SEC) adopted final rules that regulate the oral or written disclosure by public reporting companies of “non-GAAP financial measures,” which is financial information, commonly referred to as “pro forma” financial information, that is calculated and presented other than in accordance with generally accepted accounting principles (GAAP), and require public reporting companies to furnish to the SEC, on Form 8-K, earnings releases and other announcements of financial information concerning completed fiscal periods. These rules arise in part from provisions of the Sarbanes-Oxley Act of 2002 that are intended to increase the transparency and understandability of financial information disseminated by public companies and to address the misuse of “pro forma” financial information.
(Is this item miscategorized? Does it need more tags? Let us know.)
Format: PDF | Size: 173KB | Date: Feb 2003 | Pages: 8
