Published: January, 2022
A non-GAAP financial measure is a numerical measure of a registrant's historical or future financial performance, financial position, or cash flow.
What Drove the Increase in Use of Non-GAAP Financial Measures?
U.S. GAAP can be hard and sometimes difficult to interpret even for seasoned professionals with years of experience. A problem with GAAP is its emphasis on producing a single number, net income, that is supposed to be useful to the company, as well as its investors and creditors. But sophisticated investors don’t care about reported net income. They want to know its components to be able to distinguish operating items from nonoperating items, items that are likely to be recurring and which are likely to be nonrecurring.
This Online CPE course provides an overview of non-GAAP financial measures with a particular emphasis on comments from the SEC, the FASB, and comment letter analysis from several of the Big 4 accounting firms. Non-GAAP financial measures continue to rank at the top of the most frequent comment letters issued by the SEC. As a result, it’s important to understand the guidance for these measures to ensure that an entity’s financial statements remain GAAP compliant and are not misleading.
This Accounting CPE course focuses on SEC Compliance & Disclosure Interpretations. This course also provides illustrative examples of SEC Comment Letters, Prominent presentation, and Tax impacts.
This Online Continuing Education course includes following key topics:
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MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
Advisor, Kelen Camehl CPA
Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. His courses are available for purchase from many online CPE providers including the AICPA. Kelen has also remained involved in CPA exam content development for nearly 10 years and has authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s "Journal of Accountancy".
Kelen has over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Consultant with HP, Inc. in Dallas, TX. Most recently he was located in Budapest, Hungary on a three-year international assignment and served in the company’s Houston, TX location prior to this assignment. Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.