The recent turmoil surrounding Deutsche Bank, and speculations that one of the largest European banks may not survive without a bailout, yet again bring to light the importance of capital reserves that banks are required to hold. It should come … Continue reading
Author Archives: Olga Usvyatsky
Disclosure Requirements of Non-GAAP Error Corrections
In a series of posts, we have discussed mounting evidence that, with 90% of U.S. public companies using custom metrics, non-GAAP presentations are becoming a de-facto alternative accounting system. In a May speech, Mark Kronforst, chief accountant of the SEC’s Division … Continue reading
Hain Delays Filing: What to Expect
Hain Celestial Group (NASDAQ: HAIN) announced on Monday, August 15 that it would delay the release of its fourth quarter and fiscal year 2016 financial results. The reason? The company was investigating certain revenue arrangements with distributors. During the fourth quarter, the … Continue reading
Tax Implications of IRFE Repatriation
Benjamin Franklin once noted that “in this world nothing can be said to be certain, except death and taxes.” While this maxim is perfectly applicable to mere mortals, public companies, at least in theory, can live on indefinitely. (According to … Continue reading
Pondering the SEC’s Next Move on Non-GAAP: Thoughts From Audit Analytics & Analyst’s Accounting Observer
Note: This post features a guest contribution from our friend Jack Ciesielski, the publisher of the Analyst’s Accounting Observer. Audit Analytics compiled data on recent SEC comment letters sent to companies regarding their presentation of non-GAAP earnings. Together with our friends at the … Continue reading
Conflict Minerals Update: Year 3 Brings Better Reporting
Note: This blog has been modified from its original version to clarify the distinction between reports that reached a “conflict-free” determination based on RCOI alone versus those that were based on an IPSA. This past spring marked the third year that Form SD Conflict Minerals disclosures … Continue reading
Use of Non-GAAP in Proxy Statements
Non-GAAP is the issue du jour, and the past month stuck with the theme. One of the most significant bits of news came directly from the SEC. On May 17, the watchdog released an additional interpretation of Regulation G, which comprises the rules that govern the use … Continue reading