Another side of GAAP vs. non-GAAP
Fantasy Math Is Helping Companies Spin Losses Into Profits
What’s surprising, though, is how willing regulators have been to allow the proliferation of phony-baloney financial reports and how keenly investors have embraced them. As a result, major public companies reporting results that are not based on generally accepted accounting principles, or GAAP, has grown from a modest problem into a mammoth one.
http://www.nytimes.com/2016/04/24/business/fantasy-math-is-h…