Non-generally accepted accounting principles (GAAP) (pro forma) earnings form an increasingly important part of firms' performance reporting narrative. This paper reviews the academic and professional debate surrounding non-GAAP earnings reporting by management. I argue that the demand for...

<title>Abstract</title> This paper combines an accruals-based measure of accounting discretion with a multivariate modelling framework as a means of generating more appropriately specified tests of the determinants of managerial accounting policy choice. Findings suggest that smoothing considerations account...

This paper assesses the capital market effects of investor relations activities during a period of high-profile corporate scandals. We find no support for the prediction that an established reputation for effective investor relations helped shield US firms from a perceived decline in management...

The article reviews the recent academic research literature on earnings management (EM) with a view to identifying research themes and results of interest to users and preparers of financial statements, accounting standard setters, and others with responsibility for ensuring that companies...