Financial Reporting and Analysis, Virtual Events & Programming

Non-GAAP Financial Reporting

Tuesday, September 8 | 4:30 PM - 6:15 PM

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Overview

Today, more than 90% of S&P 500 companies use non-GAAP financial measures to supplement and explain their financial results. Metrics such as adjusted EPS, EBITDA and FFO are often the primary measures by which analysts and investors interpret corporate performance. Over the past two decades, the U.S. Securities and Exchange Commission has kept a close eye on this important trend and issued guidance to ensure, for example, that non-GAAP metrics are not displayed more prominently than GAAP and that they are reconciled to the most closely associated GAAP measures. In the recent batch of earnings reports, companies are including additional disclosures to communicate the impact of the pandemic on their financial results, some of which may be incorporated into their non-GAAP financial measures. Our panel will revisit the issue of non-GAAP financial reporting, assessing how these disclosures have evolved in recent years, with a special look at pandemic-related disclosures, to offer insight and guidance on evaluating corporate performance in the current environment.

Agenda

4:30 PM | WELCOMING REMARKS

Stephen P. Percoco, CFA, Security Analyst, Lark Research


4:40 PM | PANEL DISCUSSION

Moderator

Stephen P. Percoco, CFA, Security Analyst, Lark Research

Panelists

Prasadh Cadambi, Partner, KPMG LLP

Patrick Gilmore, Deputy Chief Accountant, Division of Corporation Finance, U.S. Securities and Exchange Commission

Dan Mahoney, CFA, CPA, Head of Industrials Research, CFRA

Sandra J. Peters, CPA, CFA, Senior Head, Global Financial Reporting Policy, CFA Institute


6:00 PM | Q&A


6:15 PM | CLOSING REMARKS

Stephen P. Percoco, CFA, Security Analyst, Lark Research

Additional Details

Learning Outcomes

  • Assess the strengths and weaknesses of non-GAAP measures
  • Determine how to use non-GAAP measures appropriately to analyze past and future corporate performance
  • Review new non-GAAP measures that are likely to appear as a result of the COVID-19 pandemic