SEC Adopts Final Rules: Conditions for Use of Non-GAAP Financial Measures and Disclosure of Earnings Releases on Form 8-K
- Topics:
- Regulatory issues
- Tags:
- Earnings,
- Finance,
- Financial,
- Financial Accounting,
- Financial Measure,
- GAAP,
- non-GAAP,
- Regulation G,
- SEC
- Source:
- Buchanan Ingersoll Professional
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Overview: The Securities and Exchange Commission (the "SEC") adopted final rules pursuant to Section 401(b) of the Sarbanes-Oxley Act of 2002 ("SOX") relating to the use of non-GAAP financial measures. The rules are being implemented through two separate, but related bodies of regulation: (1) new Regulation G, governing public disclosures or public releases of material information which include non-GAAP financial measures and (2) amendments to existing Item 10 of Regulation S-K, governing non-GAAP financial measures included in filings made with the SEC. Regulation G applies to any entity that is subject to the reporting requirements of Sections 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Regulation G is triggered whenever such an entity, or a person acting on its behalf, publicly discloses or publicly releases any material information that includes a non-GAAP financial measure. At the end of the article it defines Non-GAAP Financial Measures and Not Non-GAAP Financial Measures.
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Format: PDF | Size: 75KB | Date: Feb 2003 | Pages: 5
