The information contained in reconciliations to earnings based on US accounting principles by non-US companies

Article Abstract:

In order that company financial statements can be compared across countries, the U.S. Securities and Exchange Commission (SEC) demands that non-US firms base their financial statements on U.S. Generally Accepted Accounting Principles. Non-U.S. firms can use non-U.S. accounting principles only if a reconciliation footnote is provided. The New York Stock Exchange says that the reconciliation requirement should be eliminated because it prevents non-U.S. companies from entering the U.S. market. The SEC asserts that the reconciliations are necessary for investors wishing to evaluate company stock values.

International aspects, Powers and duties, United States. Securities and Exchange Commission, Disclosure statements (Accounting)

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An examination of the information content of Danish earnings and cash flows

Article Abstract:

A new study investigates the information content of Danish earnings and cash flows based on financial statement information relating to companies listed on the Danish Stock Exchange since 1983. The results suggest that earnings provide more information than cash flows although the cumulative effect of cash flows contains incrementally more information than earnings. Other results are discussed.

Research, Denmark, Profits, Cash flow, Corporate profits

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