Profit or Prophet? A Case Study of the Reporting of Non-GAAP Earnings by Australian Banks

@inproceedings{Taylor2011ProfitOP,
  title={Profit or Prophet? A Case Study of the Reporting of Non-GAAP Earnings by Australian Banks},
  author={J. S. H. Taylor},
  year={2011}
}
Australian firms increasingly highlight earnings results that do not conform to the definition of profit under generally accepted Australian accounting principles (GAAP). We compile a detailed description of the differences between GAAP and non-GAAP earnings for each of the four largest Australian trading banks for the years 2003 to 2008. Our evidence shows that each of the major banks has a history of reporting what are typically termed ‘cash earnings’ or ‘underlying earnings’. However, the… CONTINUE READING

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