Feb 2, 2023
Financial statements are more than just a compliance document,
they’re also a communication tool. But what message are you
communicating with hard to understand, vague, or overly complicated
financial statements?
Host, Armand Capisciolto, is joined by Anthony Scilipoti, Founder,
President and CEO of Veritas Investment Research and board member
of the Capital Markets Advisory Committee of the International
Accounting Standards Board (IASB).
Together they discuss the value of preparing financial statements
that tell the company’s story clearly so that investors can make
informed decisions and help move a company forward.
What You’ll Hear In This Episode:
[1:15] The value of clearly audited financial statements to investors.
[3:50] Anthony’s advice for crafting easy to understand financial reports.
[8:45] The downside of non-GAAP metrics in financial reporting.
[12:53] A comparison and reasoning of non-GAAP in the US versus Canada.
[14:04] Potential underlying causes of failure to supply needed numbers for data aggregation.
[17:57] Potential disclosure improvements resulting from new regulations.
[21:10] Do various non-cash expenses factor into non-GAAP measures?
[26:40] The value of ‘information overload’ in preparing financial reports.
[28:51] How US disclosure standards benefit companies seeking capital.
[30:18] Anthony’s recommendations for preparers of financial information.
Mentioned:
BDO
Armand
Capisciolto
Anthony Scilipoti
Additional Resources: