MEMBER HIGHLIGHT - SER member James A. Kyprios has written a second article for our member Library titled, "GAAP vs. Non-GAAP and the Abuse of EBITDA—A Confusing Issue". The paper discusses the history behind "the mistrust of GAAP impelling the use of non-GAAP measures", specifically EBITDA, and the current implications. The author concludes "that the accounting profession can no longer ignore non-GAAP measures" and "needs to opine on whether the calculation of adjusted EBITDA is in accordance with agreed-to methodologies and whether or not adjusted EBITDA is materially misleading." James thanks his friends Bill Purcell (an Investment Banking expert and an SER member) and Joe Loffredo (Deputy General Manager and Chief Financial Officer at China Merchants Bank’s branch in New York City) for their important suggestions helping him write this article. The article is linked here and can also be found in SER's LIbrary for members.
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