Reporting Quality Indicators: Datasets and Their Uses

Posted on March 30, 2015 by John Pakaluk

Audit Analytics was invited to present at a recent meeting of the Financial Accounting Standards Advisory Council (FASAC), on March 17th at the FASB offices in Norwalk, CT. CEO and Founder, Mark Cheffers – along with Olga Usvyatsky, VP of … Continue reading →

Genworth Financial Cites Inadequate Controls

Posted on March 4, 2015 by Olga Usvyatsky

Reporting requirements may sometimes seem to be set in stone, but they do in fact change from time to time. Usually, when a regulator changes a requirement, it also imposes a deadline for the implementation of the change. The companies are … Continue reading →

Changes in the Useful Lives of Depreciable Assets

Posted on December 17, 2014 by John Pakaluk

Accounting estimates continue to be a hot topic in the industry – for regulators, auditors, corporations, and investors alike. Investors are as concerned with current, relevant information as ever, but today’s corporations aren’t quite like the staid manufacturers of a few … Continue reading →

Non-GAAP Measures and One-Time Adjustments

Posted on November 3, 2014 by Olga Usvyatsky

This October, PwC released a study on the use of non-GAAP metrics (NGMs) in IPO prospectus filings. According to the study, almost 60% of over 400 companies used at least one NGM. Out of those, at least 65% used EBITDA and/or Adjusted … Continue reading →

Accounting Estimates: Groupon’s Revenue Adjustment

Posted on September 22, 2014 by Olga Usvyatsky

On August 19th, the PCAOB issued a Staff Consultation Paper on Auditing Accounting Estimates and Fair Value Measurements. As discussed in the paper, Accounting Estimates is one of the most challenging topics for auditors and companies alike. Other regulatory bodies, … Continue reading →

Fred’s Makes An Aggressive Change In Accounting

Posted on September 15, 2014 by John Pakaluk

Fred’s Inc (NASDAQ: FRED), the regional discount retailer, released its Q2 results yesterday in a Form 10-Q. Revenue was up 1.9% compared to the prior year, but restructuring charges led to a net loss of over $(16.4) million, compared to … Continue reading →

Changes in Percentage-of-Completion Estimates: Earnings Bonanza

Posted on August 4, 2014 by John Pakaluk

Earnings Season With the quarterly earnings season well underway, investors and other interested parties will spend lots of time analyzing company filings, with a special emphasis on earnings per share. One of the most popular benchmarks for measuring a company’s … Continue reading →