Category Archives: Out of Period Adjustments

The Audit Analytics Out of Period Adjustments database tracks corrections of errors in prior financial statements that do not materially affect past or present financials.

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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 →

Posted in Changes in Accounting Estimates, Financial Restatements, Non-GAAP, Out of Period Adjustments

US Company Tax Issues On The Rise

Posted on October 7, 2014 by Brendan Hannen

Burger King grabbed headlines a while back when it announced it will be joining with the iconic Canadian chain Tim Hortons and moving its headquarters to the north. Burger King has long been a staple in the American tradition of … Continue reading →

Posted in Accounting + Oversight, Audit + Compliance, Corporate + Legal, Financial Restatements, Out of Period Adjustments, Quality of Reporting, Regulation Oversight, SEC Comment Letters, Tax | Leave a reply

The Rise of Out of Period Adjustments

Posted on September 16, 2014 by Derryck Coleman

Overview of Out of Period Adjustments Audit Standard No. 8 paragraph 3 states that an “auditor must plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements due to error or … Continue reading →

Posted in Accounting + Oversight, Financial Restatements, Out of Period Adjustments, Quality of Reporting | Leave a reply

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