This marks a growth when compared with
GAAP net income of USD0.
GAAP is the "gold standard" developed through a transparent standards-setting process, and includes metrics such as net income, earnings per share, and operating cash flows.
The SEC has detailed regulations regarding disclosure of non
GAAP financial measures to ensure that investors are provided with information that is fulsome and not misleading.
Securities and Exchange Commission (SEC) considers a non-
GAAP financial measure a numerical measure of past or future financial performance, financial position or cash flows that includes amounts that are excluded from the most directly comparable
GAAP measure or excludes amounts that are included in the most directly comparable
GAAP measure.
A complete reconciliation of
GAAP to non-
GAAP results is attached to this press release.
In addition, CommVault believes these non-
GAAP operating measures are useful to investors, when used as a supplement to
GAAP financial measures, in evaluating CommVault's ongoing operational performance.
Industry groups, including the Private Equity Industry Guidelines Group (PEIGG) in the United States and the venture capital associations in Europe, have developed PE valuation guidelines that help managers estimate fair value in accordance with relevant
GAAP rules in a consistent manner.
Essentially, IFRS 4 allows insurance contracts to continue to be accounted for under local
GAAP methods,"as long as they can be identified as insurance contracts," said Nagari, whose London-based group is developing a "global interpretation" of IFRS, along with PwC's position on the implications of IFRS 4 for insurance contracts.
Regulation G defines the term "non-
GAAP financial measure" as any numerical measure of historical or future financial performance, financial position, or cash flows that excludes amounts that would be included in analogous
GAAP measures.
We recommend that the
GAAP E&P method permit taxpayers to start with their financial statements and limit those adjustments to those items that are likely to be material.
Significantly, Judge Laro held that Wal-Mart's methodology conformed with
GAAP because Wal-Mart received an unqualified audit opinion from its independent auditors, Ernst & Young (E&Y).
Following
GAAP, the annual rent expense recorded in the financial statements is $10,450, although the cash expense is only $10,000 in the first year of the lease and increases by $100 in each succeeding year.
