We have been asked several times whether or not the adoption of the new revenue recognition standard will cause an increase in the number of restatements and control failures. While it may be early to say, our review of SEC … Continue reading
Author Archives: Olga Usvyatsky
Could We have Predicted the General Electric Insurance Charge?
General Electric (GE) stock reached a new low of $16.02 on January 19, 2018, continuing the 2017 downtrend into 2018. The slide followed an announcement that the company has completed a comprehensive review of its insurance portfolio. The review was … Continue reading
Tax Cuts and Jobs Act – Which Companies are Affected and by How Much?
The Tax Cuts and Jobs Act, passed into law in December 2017, is going to significantly affect the amount of taxes on income paid by U.S. companies. The major provisions of the Act include a drop in corporate tax rate … Continue reading
A Look at Top SEC Comment Letter Issues in 2017
2017 marked the eighth consecutive year of decline in the number of SEC comment letters. During the first six months of 2017, 2,315 letters1 were filed (905 CORRESPs and 1,410 UPLOADs) – a decrease of 246 letters (9.6%) from the first … Continue reading
Reporting multiple Earnings Per Share numbers – General Electric is not alone
On the recent Q3 earnings call, General Electric [GE] pledged to simplify adjusted EPS (Earnings Per Share) numbers that are being reported to investors. Among other things, Jamie Miller, the incoming CFO of GE, plans to move off reporting industrial and … Continue reading
Axon Enterprise, “The Dog ate my Email”
Technology has greatly improved our lives. Without it, we wouldn’t be able to surf the net, track our steps, talk through watches, or use stories of weak cell signals and dead car batteries to get us out of trouble. But sometimes … Continue reading
SEC Updates Non-GAAP C&DIs for Business Combinations
On October 17, 2017, the SEC released two new updates to the Compliance & Disclosure Interpretations (“C&DIs”). The C&DIs comprise the Division’s interpretations of the rules and regulations on the use of non-GAAP financial measures. The two updates focus on the … Continue reading