Non-GAAP earnings: International overview and suggestions for future research

This paper shows how non-generally accepted accounting principles (GAAP) earnings have been found to be more informative than GAAP earnings in several scenarios like countries where non-GAAP disclosures are compulsory and countries where these disclosures are voluntary but regulated

Presentation in financial statements of redeemable preferred stocks

The Commission hereby adopts rules, encompassing certain amendments to Regulation S-X, to modify the financial statement presentation of preferred stocks subject to mandatory redemption requirements or. whose redemption is outside the control of the issuer. The rules adopted do not impact present reporting practices of registrants not having such securities outstanding. Registrants having such securities outstanding are required to present separately, in balance sheets, amounts applicable to the following three general classes of securities: (i) preferred stocks subject to mandatory redemption requirements or whose redemption is outside the control of the issuer; (ii) preferred stocks which are not redeemable or are redeemable solely at the option of the issuer; and (iii) common stocks. A general heading, stockholders\u27 equity, is not to be used and presentation of a combined total for equity securities, inclusive of redeemable preferred stocks, is prohibited. In addition, the rules require disclosure of redemption terms, five-year maturity data, and changes in redeemable preferred stocks in a separate note to the financial statements captioned Redeemable Preferred Stocks

Independence of certifying accountants - Compilation of representative administrative rulings in cases involving the independence of accountants

The Securities and Exchange Commission today announced the publication of an additional release in its Accounting Series dealing with independence of accountants. This release, which summarizes cases in the Commission\u27s experience under the independence rule since the publication of Accounting Series Release No. 47 on January 25, 1944, together with prior releases and Commission decisions reflects the development of policy regarding the practice of accountants before the Commission over a period of some twenty-five years. Original item in Boxno. 041

Notice of adoption of amendment to regulation S-X deferring effective date of Rule 5-02-1 as it relates to disclosure of compensating balances

Amendments to Regulation S-X adopted on June 23, 1972, effective for periods ending on or after December 31, 1972, included a revised Rule 5-02-1, Cash and cash items, in which a specific requirement for separate disclosure of compensating balances maintained was added. Since June, the Commission has received many inquiries as to the form of disclosure contemplated by this rule. Some preliminary guidelines were drawn up and exposed in a limited way in November to interested groups. The comments received from those groups indicated a need for additional time both to improve the proposed guidelines through further comments on formal exposure and to develop procedures for implementation on the part of registrants, auditors and lending institutions. Accordingly, the Commission has decided to defer the effective date of this requirement

Adoption of revisions of the uniform system of accounts for mutual service companies and subsidiary service companies, under the Public Utility Holding Company Act of 1935, to permit orderly destruction of certain records of service companies

On May 10, 1966 the Securities and Exchange Commission published for comment a proposal under the Public Utility Holding Company Act of 1935 (Release 35-15466) to revise its Uniform System of Accounts for Mutual Service Companies and Subsidiary Service Companies ( System of Accounts ), so as to establish, as an Appendix thereto, a regulation entitled: REGULATION TO GOVERN THE PRESERVATION AND DESTRUCTION OF RECORDS OF MUTUAL AND SUBSIDIARY SERVICE COMPANIES ( Regulation ). Heretofore, the System of Accounts had required that service companies subject thereto retain their records permanently, unless otherwise authorized by the Commission. The purpose of the proposal is to eliminate this provision and substitute therefor appropriate procedures for the orderly destruction of records, the continued retention of which is deemed no longer necessary or appropriate in the public interest or for the protection of investors or consumers

Securities and Exchange Commission today announced the adoption of two amendments to Regulation S-X prescribing the manner in which original cost data and other components of utility plant are to be shown in balance sheets of public utility companies and consolidated balance sheets of public utility holding companies filed with the Commission

The Securities and Exchange Commission today announced the adoption of two amendments to Regulation S-X prescribing the manner in which orginal cost data and other components of utility plant are to be shown in balance sheets of public utility companies and consolidated balance sheets of public utility holding companies filed with the Commission. In accordance with the. usual practice of the Commission, comments and suggestlons as to preliminary drafts of the amendments were obtained from various interested persons, including representatives of state regulatory commissions and the national professional societies

Revision of uniform system of accounts for Public Utility Holding Company Act of 1935 governing the preservation and destruction of books of account and other records of registered holding companies

On September 30, 1959 the Securities and Exchange Commission published for views and comments a proposal to revise the Uniform System of Accounts for Public Utility Holding Companies for the purpose of establishing a regulation to govern the retention, preservation and destruction of the books of account and other records of registered holding companies which are not also operating companies. Interested persons recommended certain minor changes, most of which have been incorporated in the revision of the Uniform System of Accounts adopted by the Commission today