It took a market meltdown to renew concern about a potentially misleading form of accounting
In January 2001, I wrote an article about the spreading use of pro-forma accounting and, more specifically, the use of pro-forma reporting in earnings releases. The bottom line: a growing number of US companies, particularly acquisitive technology companies, were pushing beyond the original intent of pro-forma reporting. Instead of simply excluding from their pro-forma earnings the cost of goodwill amortization or charges taken for large restructurings, companies were excluding - or including
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