Too many corporate reports come off sounding like, "We would have made our numbers except that..." OR "Excluding the CEO's compensation, we were profitable." Isn't it great to see someone step up to this whole pro forma nonsense?
Yahoo Gives Pro Forma the Boot. The bellwether Internet firm says it will stop reporting earnings in pro forma, a controversial accounting method popular in the technology sector. By Joanna Glasner. [Wired News]
The other laughable condition is the one in which a company has a new non-recurring item each quarter. Pretty soon you get the feeling that non-recurring items occur with regularity at many of these places.
