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September 29, 2023

Accounting News Roundup: Apple’s Taxes and Companies Get the Hint re: Non-GAAP Metrics | 12.16.16

Apple's taxes

Earlier this year, the European Union said that Ireland had given Apple unfair treatment and that the company owed 13 billion euros. Bloomberg has a good article on what happened behind the scenes, focusing on the work of the EU's "Maxforce," the group behind the investigation. "You’d think it might have earned the name by applying maximum force while investigating alleged financial shenanigans. It didn’t. It’s just led by a guy named Max." 

Adventures in non-GAAP accounting

Compliance Week reports on a new study from Audit Analytics that found lots of companies changing how they displayed their non-GAAP metrics in communications with investors. Prior to the update from the SEC in May, over 200 companies gave more prominence to non-GAAP measurements over the GAAP ones. After the new rules were issued, only 28 companies didn't get the hint.

How's Weatherford International doing?

The energy services company that's had more than its fair share of unflattering news named Christoph Bausch its new CFO.

ICYMI: PCAOB budget edition

The SEC approved the PCAOB's budget of $268.5 million. That's up from $257.7 million last year.

Previously, on Going Concern…

I wrote about accounting firms giving people cheap, crappy gifts. And Accountingfly reminded everyone that there's still time to find a new job this year.

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