Tuesday, June 11, 2019
Not Much Fizz in LaCroix Right Now

Wednesday, May 29, 2019
An Example of Calcbench, Excel, and Insight

Monday, May 20, 2019
Research Paper: Capex Spending

Thursday, May 16, 2019
Psst: Got Any Weed?

Wednesday, May 15, 2019
Open Letter: SEC Proposed Rule for BDCs

Friday, May 10, 2019
General Motors and Workhorse

Monday, May 6, 2019
How to Find Earnings Release Data

Tuesday, April 23, 2019
Following Restructuring Costs Over Time

Monday, April 22, 2019
Capex Spending: More Than You Might Think

Saturday, April 13, 2019
When AWS Takes Over the World

Thursday, April 11, 2019
Data Trends in Focus: Restructuring Costs

Sunday, April 7, 2019
How One Customer Crushed It With Calcbench

Thursday, April 4, 2019
TJX Shows Complexity of Leasing Costs Reporting

Tuesday, April 2, 2019
CEO Pay Ratios: Some 2018 Thoughts

Wednesday, March 27, 2019
Corporate Spending: Where It Goes, 2017 vs. 2018

Monday, March 25, 2019
Health Insurers: A Bit Winded?

Friday, March 22, 2019
Our New Master Class Video

Thursday, March 21, 2019
Tech Data’s Goodwill Adjustment

Tuesday, March 19, 2019
There’s Taxes, and There’s Taxes

Saturday, March 16, 2019
Adventures in Tax Cuts and Net Income

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We didn’t plan this, we swear—but one day after our post about how Calcbench users can easily find and read SEC comment letters, the SEC itself gave the perfect example of why you might want to do so.

That example came in the form of comment letters sent to LendingClub, prodding the online lender about its use of non-GAAP accounting metrics. The SEC and LendingClub swapped a series of letters over the summer, as part of the SEC’s regular review of public filers’ financial accounting.

By Nov. 4 the SEC had closed its review with no further action, and per usual routine, the comment letters became public this fall. You can read all about the LendingClub’s exchange in an article from the Wall Street Journal today.

Sympathetic souls might think, “Yuck, that must have been an unwelcome surprise from the SEC.”

Well, no. Not if you keep on the lookout for SEC’s comment letters to your competitors, to see whether questions they receive might eventually become questions you receive, too.

For example, On Deck Capital, an online lender to small businesses, also received SEC comment letters over the summer inquiring about On Deck’s non-GAAP metrics. Another competitor, Prosper Marketplace, had extensive correspondence with the SEC in 2015 over its registration statement.

All of that correspondence has been tucked away in Calcbench’s databases for many months. Comment letters typically don’t become public on the SEC EDGAR database until 20 days after they are sent—but once they are available, then like all SEC filings, they are indexed and added to the Calcbench empire immediately.

For financial reporting professionals, then, keeping tabs on your competitors’ comment letters is a great way to stay ahead of what might be coming your way, too. And keeping tabs has never been easier on Calcbench.

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