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Tuesday, August 20, 2019
WeWork’s Liabilities in Perspective

Wednesday, August 14, 2019
Comparing LinkedIn, Twitter Revenue

Wednesday, August 7, 2019
Leasing’s Effect on Retail Balance Sheets

Thursday, August 1, 2019
Using Calcbench to Find China Exposure

Tuesday, July 30, 2019
Leasing Details: The Comcast Example

Monday, July 29, 2019
Easy Fundamental Equity Analysis in Python

Monday, July 22, 2019
Calcbench Data and Tax Reform Insight

Wednesday, July 17, 2019
Downshifting in the Trucking World

Tuesday, July 16, 2019
New Report: Adoption of New Lease Accounting Standard

Friday, July 5, 2019
More Consequences of Lease Accounting

Monday, July 1, 2019
Another Example of Tax Reform Twisting Bottom Line

Thursday, June 27, 2019
The Latest Share Repurchase Data

Tuesday, June 18, 2019
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Tuesday, June 11, 2019
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Wednesday, May 29, 2019
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Monday, May 20, 2019
Research Paper: Capex Spending

Thursday, May 16, 2019
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Wednesday, May 15, 2019
Open Letter: SEC Proposed Rule for BDCs

Friday, May 10, 2019
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More Thoughts About Comment Letters
Friday, January 20, 2017

You may wonder about the hip, edgy podcasts that we here at Calcbench follow, because we are so hip and edgy ourselves. Well, one that we sometimes enjoy is the CFO Direct podcast from PwC, which airs roughly once a month to talk about of-the-moment reporting issues.

Yes, we’re just that cool.

The most recent podcast examines trends in 2016 comment letters from the SEC. As you prepare your annual filings for later this spring, or if you want ideas on what topics you may want to research through the Calcbench databases, this one is worth a listen.

One of the speakers, Wayne Carnall (former chief accountant at the SEC, now partner with PwC), noted that lots of comment letters recently focus on complex matters of judgment. For example, you may want to include a non-GAAP performance metric in your filing, and you calculate that non-GAAP metric by excluding a few items. That idea can be acceptable, Carnall said, but if your metric eliminates some expenses that are necessary for your business to function—well, that non-GAAP metric won’t pass the smell test with SEC staff.

Or you might want to change your presentation of non-GAAP metrics from one filing period to another. Is that appropriate? The answer depends on how much of an explanation you give about why the change in presentation makes sense, Carnall said. If a company is changing its presentation simply to make its performance look better, a comment letter might be in your future.

We mention all this because Calcbench does let you research and track SEC comment letters. You can see one previous post on how to find comment letters; and another on the wisdom of following your peers’ and competitors’ comment letters, to gauge whether any reporting practices you’re following might get a comment letter too. And you can see a whole other post about forming a peer group as well.

Meanwhile, we’re going back to listening to this podcast about comment letter trends. Stay hip, people.

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