Financial Accounting News

Plan Emerges to Ease Comparisons of Global Financial Statements

Dec. 9, 2019, 9:17 PM

International accounting rulemakers are releasing a plan in the next week that would push global companies to be more consistent in their financial statements.

The goal: getting companies in similar industries to present similar, standardized accounting measures and to downplay the use of metrics that don’t conform to generally accepted accounting principles (GAAP). The International Accounting Standards Board proposal comes as non-GAAP measures are under increased scrutiny on both sides of the Atlantic. In the U.S., the SEC is ramping up examination of unofficial accounting measures such as those used by WeWork and Peloton interactive Inc.

“We continue to hear...

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