Pro forma disclosure practices of firms applying IFRS

Lori Solsma and W. Mark Wilder

International Journal of Accounting & Information Management, 2015, vol. 23, issue 4, 383-403

Abstract: Purpose - – The purpose of this paper is empirically investigate the pro forma disclosure behavior of US-listed foreign firms applying International Financial Reporting Standards (IFRS). Design/methodology/approach - – The annual earnings press releases of US-listed foreign firms on the New York Stock Exchange are analyzed to compare the effect that reporting standard (specifically IFRS) has on pro forma disclosure frequency, disclosure characteristics and benchmarking. Findings - – US-listed foreign firms applying IFRS report pro forma disclosures more frequently than firms using the USA’s generally accepted accounting principles (GAAP), but less opportunistically. Originality/value - – This paper extends Epping and Wilder’s (2011) study and contributes to the pro forma disclosure literature by providing a cross-country analysis of non-GAAP disclosure based on reporting standard (IFRS or US GAAP). Understanding the non-GAAP disclosure of firms applying IFRS is useful to investors and regulators, as more countries adopt IFRS.

Keywords: International; Standards; Disclosure; Non-GAAP; Opportunistic; Pro forma (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijaimp:v:23:y:2015:i:4:p:383-403

DOI: 10.1108/IJAIM-12-2014-0083

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