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| Author: | Hitz, J. |
| Title: | Press release disclosure of "pro forma" earnings metrics by large german corporations - empirical evidence and regulatory recommendations |
| Journal: | Accounting in Europe
2010 : VOL 7:1-2 p. 63-86 |
| Index terms: | regulations COMPANIES accounting principles securities european union |
| Freeterms: | pro forma |
| Language: | eng |
| Abstract: | This paper is set against the background of recent regulatory action and standard-setting activities pertaining to the disclosure of so-called "pro forma" earnings. The analyze has been carried out using a sample of large corporations listed on the Frankfurt stock exchange years 2005 and 2006. The results indicate that firms make extensive use of so-called "EB" (earnings before) metrics and, more importantly, of pure non-GAAP performance measures, both in terms of frequency and reporting emphasis. The transparency of adjustments to GAAP earnings turns out to be low. |
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