"Financial Report":non-GAAP financial measure

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來源: 正保會計網校編輯：小鞠橘桔 2020/12/02 10:30:01　字體：大小

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Questions 1:

Accounting choices within GAAP that decrease reported performance in the current period and may increase performance in later periods are most likely examples of:

A、 aggressive accounting.

B、 conservative accounting.

C、 earnings that are not sustainable.

Questions 2:

Which of the following items is a non-GAAP financial measure?

A、 Net income after taxes

B、 Income from operations

C、 EBITDA

View answer resolution

【Answer to question 1】B

【analysis】

B is correct. Conservative accounting choices decrease the company’s reported performance and financial position in the current period and may increase its reported performance and financial position in later periods.

A is incorrect because aggressive accounting choices have the opposite effect of increasing the company’s reported performance and financial position in the current period and may decrease its reported performance and financial position in later periods

C is incorrect because conservative accounting such as decreasing current reported performance and increasing later reported performance does not typically create a sustainability issue.

【Answer to question 2】C

【analysis】

C is correct. EBITDA is a non-GAAP financial measure. The SEC prohibits the exclusion of charges or liabilities requiring cash settlement from any non-GAAP liquidity measures other than EBIT and EBITDA.

A is incorrect because net income after taxes is a GAAP-compliant financial measure that should be defined, calculated, and presented consistently with the same measure on income statements of other US-based publicly traded companies.

B is incorrect because income from operations is a GAAP-compliant financial measure that should be defined, calculated, and presented consistently with the same measure on income statements of other US-based publicly traded companies.

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