The paper examines the issues involved, and the provisions of a significant Act governing financial transactions and securities. The Act seeks to govern the use of non-Generally Accepted Accounting Principles GAAP financial measures. The paper particularly deliberates on the provisions of the Act dealing with non-GAAP financial measures.
From the executive summary: ‘The Sarbanes-Oxley Act directs the U.S. Securities and Exchange Commission SEC to develop rules, regulating disclosures of non-Generally Accepted Accounting Principles GAAP financial measures and the SEC implemented the new rules. If a firm discloses non-GAAP earnings measures, the new rules require the disclosure of the...
This article explains the final rule on conditions for use of non-GAAP financial measures and form 8-K filing requirements. The SEC issues final rules relating to certain financial disclosures and earnings releases. These rules cover three areas. First, pursuant to new Regulation G, all public disclosure of non-GAAP financial measures...
On January 22, 2003, the Securities and Exchange Commission issued Securities Act Release. This release adopts new regulation G, amendments to Item 10 of regulation S-K and Item 10 of Regulation S-B, amendments to form 20-F, and amendments to form 8-K. The new regulation and related amendments were adopted to...
The Securities and Exchange Commission SEC has adopted final rules governing the use of non-Generally Accepted Accounting Principles GAAP financial measures. The paper highlights significant distinctions between the proposed and the final adopted rules. The material terms of the final rules are also summarized.
On January 15, 2003, the SEC voted to adopt the rules and amendments concerning provisions of the Sarbanes-Oxley Act of 2002 (“Sarbanes-Oxley”). This article deals in displaying the conditions for use of non - GAAP financial information under section 401b of Sarbanes-Oxley act and amendments to form 8-K under section...
The Securities and Exchange Commission SEC proposed the Rules implementing provisions of the Sarbanes-Oxley Act. The proposed Rule requires companies to reconcile Non-Generally Accepting Accounting Principles GAAP financial information, file the earnings announcement, and disclose the balance sheets. The Rule also prohibits the directors and officers from trading during pension...
On November 4 and 5, 2002, the SEC proposed new rules to implement Sections 401a and 401b of the Sarbanes-Oxley Act of 2002 the Act. The proposed rules would require disclosure in the Management's Discussion and Analysis of Financial Condition and R On November 4...
Introduction Who is Subject to Sarbanes-Oxley? When Does Sarbanes-Oxley Take Effect? Key Provisions of Sarbanes-Oxley, and Related SEC Rulemaking Certification Requirements Section 302 Section 906 Differences Between Section 906...
David S. Rosenthal and Martin Nussbaum Originally published in February 2003 Pursuant to Section 401b of the Sarbanes-Oxley Act of 2002, the Securities and Exchange Commission (the "SEC") has adopted new Regulation G and additional rules with respect to the use by issuers of...
Business Editors NASHVILLE, Tenn.--BUSINESS WIRE--Feb. 14, 2003 Central Parking Corporation (NYSE:CPC) today announced GAAP net earnings of $0.19 per diluted share for the quarter ended December 31, 2002. This compares to reported GAAP net earnings for the quarter ended December 31, 2001 of $0.18 per diluted...
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