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A Case Study in the Use and Potential Misuse of Non-GAAP Financial Measures

The journal of applied business and economics, 2016-07, Vol.18 (3), p.117 [Peer Reviewed Journal]

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Title:
A Case Study in the Use and Potential Misuse of Non-GAAP Financial Measures
Author: Boyer, Benoit ; Lim, Ralph ; Lyons, Bridget
Subjects: Accounting ; Administrative expenses ; Annual reports ; Capital assets ; Case studies ; Cash flow statements ; Chemical industry ; Earnings per share ; Financial statements ; Income taxes ; Interest income ; Net income ; Operating leverage ; Ratios ; Sales ; Tax basis
Is Part Of: The journal of applied business and economics, 2016-07, Vol.18 (3), p.117
Description: Firms reporting under US GAAP are allowed to supplement financial information with non-GAAP measures. We examined 6 Firms in the chemical industry and looked at what information was presented (Dow, Du Pont, Monsanto, FMC, PPG, Praxair). We use the 2014 Annual Report so that we would have comparable data for all companies. For 2 firms we looked at numbers presented in Cap IQ and in Bloomberg and compared them to the numbers presented by the company (Dow and Du Pont). The numbers reported by the firms and the analysts differed greatly.
Publisher: Thunder Bay: North American Business Press
Language: English
Identifier: ISSN: 1499-691X
Source: AUTh Library subscriptions: ProQuest Central

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