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- Title
Making Pro Forma Information More Useful.
- Authors
Arnold, Jerry L.; Duggan, Joseph William
- Abstract
The article discusses corporate reporting and pro forma disclosure of information. The focus is on making pro forma measures a complement to the numbers calculated with generally accepted accounting principles, or GAAP. The issues of "one-time items," usefulness of pro forma information in predicting future performance, treatment of good news as net income and bad news as extraordinary items, and transparency in accounting are mentioned. Examples include a non-cash write-off at Bethlehem Steel Corp., which later filed for Chapter 11 bankruptcy protection. Rules and publications from the U.S. Securities and Exchange Commission, FASB pronouncements No. 142, No. 141, and No. 131, and EBITDA--or earnings before interest, taxes, depreciation, and amortization--are also mentioned.
- Subjects
UNITED States; PRO forma statements (Accounting); DISCLOSURE in accounting; UNITED States. Securities &; Exchange Commission; ACCOUNTING standards; WRITE-offs; EXTRAORDINARY items (Accounting)
- Publication
Financial Executive, 2002, Vol 18, Issue 3, p38
- ISSN
0895-4186
- Publication type
Article