Trendy topics come and go, and the financial reporting industry is no exception. Lately, the trending topic in financial reporting has been the use of non-GAAP metrics. Non-GAAP got a new spin after SEC Chairman Mary Jo White in her … Continue reading
Author Archives: Olga Usvyatsky
What Depreciation at Intel says about Moore’s Law
For decades Intel (INTC) has been a flagship of innovation in semiconductors. Gordon E. Moore, one of Intel’s co-founders, made an observation back in 1965 that later became known as Moore’s Law. He postulated that the number of transistors in … Continue reading
Raising the Tone: Lessons from the Past
By now you’ve probably heard of the ongoing saga at Valeant (VRX). The beleaguered pharmaceutical company has seen its stock plummet, questions about its accounting practices, harsh criticisms about its business practices, and turmoil among management and the board. A recent … Continue reading
Conflict Minerals: Corp Fin Taking Notes?
Regulations on “Conflict Minerals”, and the section of the Dodd-Frank Act that gave rise to those rules, have seen a fair amount of controversy over the past two years. In a dramatic move, on August 18, 2015 the US Court of Appeals reaffirmed its … Continue reading
Non-GAAP Déjà Vu
As our analysts monitor Non-Timely filings, we sometimes get the sense that we’ve heard something before, like a tune stuck in your head that you can’t quite name. Early this week, we read an unusual NT-10-K from OM Asset Management stating that the company had to … Continue reading
Comments Pending? Companies without Recent Comment Letters
In each of the past three years, the SEC has reviewed the filings of more than half of all public companies. In its 2015 Agency Financial Report, for example, the SEC disclosed that it reviewed 51% of public companies last year … Continue reading
Non-GAAP Metrics in SAB 99 Materiality Analyses
The pros and cons of non-GAAP metrics have been discussed in more than a few recent articles. Proponents of non-GAAP frequently claim that GAAP contains many ambiguities and loopholes, and that non-GAAP metrics can be more current and relevant. Opponents sometimes … Continue reading