Accounting standards

Sagar Teotia to Conclude Tenure as SEC Chief Accountant

Wednesday, January 13, 2021 - 3:08pm

As Chief Accountant, Mr. Teotia is the principal advisor to the Commission on accounting and auditing matters.

Key Points: 
  • As Chief Accountant, Mr. Teotia is the principal advisor to the Commission on accounting and auditing matters.
  • In addition, as Chief Accountant, Mr. Teotia is responsible for assisting the Commission with discharging its oversight of the Financial Accounting Standards Board (FASB) and the Public Company Accounting Oversight Board (PCAOB).
  • Mr. Teotia was named as the SECs Chief Accountant in 2019 after previously serving as Deputy Chief Accountant.He also previously served as a professional accounting fellow in OCA.
  • It has been an absolute honor to work with so many talented professionals at the SEC, said Mr. Teotia.

Sana Biotechnology Announces Appointments to its Board of Directors

Friday, January 8, 2021 - 2:00pm

SEATTLE, Jan. 8, 2021 /PRNewswire/ -- Sana Biotechnology, Inc. (Sana), focused on creating and delivering engineered cells as medicines, announced today that Josh Bilenker, M.D., Alise Reicin, M.D., and Michelle Seitz, CFA, have been appointed to the Sana Board of Directors.

Key Points: 
  • SEATTLE, Jan. 8, 2021 /PRNewswire/ -- Sana Biotechnology, Inc. (Sana), focused on creating and delivering engineered cells as medicines, announced today that Josh Bilenker, M.D., Alise Reicin, M.D., and Michelle Seitz, CFA, have been appointed to the Sana Board of Directors.
  • Dr. Bilenker trained at the University of Pennsylvania in internal medicine and medical oncology, earning board certification in these specialties.
  • She is a Chartered Financial Analyst (CFA) and past board member of The Financial Accounting Foundation (FAF), the governance board of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB).
  • Sana Biotechnology, Inc. is focused on creating and delivering engineered cells as medicines for patients.

PAVmed Reports Third Quarter 2020 Financial Results and Provides Business Update

Tuesday, November 17, 2020 - 9:00pm

To supplement our unaudited financial results presented in accordance with U.S. generally accepted accounting principles (GAAP), management provides certain non-GAAP financial measures of the Companys financial results.

Key Points: 
  • To supplement our unaudited financial results presented in accordance with U.S. generally accepted accounting principles (GAAP), management provides certain non-GAAP financial measures of the Companys financial results.
  • We believe these non-GAAP financial measures provide meaningful information to assist investors, shareholders and other readers of our unaudited financial statements in making comparisons to our historical financial results and analyzing the underlying performance of our results of operations.
  • Non-GAAP financial measures are provided to enhance readers overall understanding of our current financial results and to provide further information for comparative purposes.
  • In addition, management believes non-GAAP financial measures enhance the comparability of results against prior periods.

FAF Trustees Appoint Frederick L. Cannon and Reappoint Christine A. Botosan to the Financial Accounting Standards Board

Tuesday, November 17, 2020 - 5:30pm

The Board of Trustees of the Financial Accounting Foundation ( FAF ) today announced the appointment of Frederick (Fred) L. Cannon and the reappointment of Christine A. Botosan to the Financial Accounting Standards Board ( FASB ).

Key Points: 
  • The Board of Trustees of the Financial Accounting Foundation ( FAF ) today announced the appointment of Frederick (Fred) L. Cannon and the reappointment of Christine A. Botosan to the Financial Accounting Standards Board ( FASB ).
  • Ms. Botosan was appointed to her first term on July 1, 2016 and will conclude her service on June 30, 2026.
  • View the full release here: https://www.businesswire.com/news/home/20201117006091/en/
    On behalf of the FAF Board of Trustees, I am pleased that Mr. Cannon will be joining the FASB.
  • Established in 1972, the Financial Accounting Foundation (FAF) is the independent, private-sector, not-for-profit organization based in Norwalk, Connecticut responsible for the oversight, administration, financing, and appointment of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB).

Evolving Systems Reports Third Quarter 2020 Financial Results

Wednesday, November 11, 2020 - 9:15pm

(NASDAQ: EVOL) (the Company), a leader in real-time digital engagement, today reported financial results for its third quarter ended September 30, 2020.

Key Points: 
  • (NASDAQ: EVOL) (the Company), a leader in real-time digital engagement, today reported financial results for its third quarter ended September 30, 2020.
  • Total revenue for the third quarter ended September 30, 2020 was $6.8 million, a $0.7 million increase from the three months ended September 30, 2019.
  • The Company reports its financial results in accordance with accounting principles generally accepted in the U.S. (GAAP).
  • Non-GAAP financial measures should not be considered in isolation from or as an alternative to the financial information prepared in accordance with GAAP.

CryoLife Reports Third Quarter 2020 Financial Results

Wednesday, November 4, 2020 - 9:05pm

Total revenues for the third quarter of 2020 were $65.1 million, reflecting a decrease of (4%) on a GAAP and non-GAAP constant currency basis, both compared to the third quarter of 2019.

Key Points: 
  • Total revenues for the third quarter of 2020 were $65.1 million, reflecting a decrease of (4%) on a GAAP and non-GAAP constant currency basis, both compared to the third quarter of 2019.
  • Due to continued uncertainties resulting from the COVID-19 pandemic, the Company is not issuing 2020 financial guidance at this time.
  • The Company's financial performance for 2020 is subject to the risks identified below.
  • CryoLife does not undertake to update its forward-looking statements, whether as a result of new information, future events, or otherwise.

Gartner Reports Third Quarter 2020 Financial Results

Tuesday, November 3, 2020 - 11:00am

Certain financial metrics contained in this Press Release are considered non-GAAP financial measures.

Key Points: 
  • Certain financial metrics contained in this Press Release are considered non-GAAP financial measures.
  • Definitions of these non-GAAP financial measures are included in this Press Release under "Non-GAAP Financial Measures" and the related reconciliations are under "Supplemental Information Non-GAAP Reconciliations."
  • Gartner, Inc. (NYSE: IT) is the worlds leading research and advisory company and a member of the S&P 500.
  • Certain financial measures used in this Press Release are not defined by U.S. generally accepted accounting principles ("GAAP") and as such are considered non-GAAP financial measures.

Financial Accounting Standards Board (FASB) Spotlights Its “Quality Control” Process

Wednesday, September 30, 2020 - 4:00pm

When the Financial Accounting Standards Board ( FASB ) issues a final standard, it means the FASB has concluded that the benefits derived from the standard justify the cost of preparing and using that information.

Key Points: 
  • When the Financial Accounting Standards Board ( FASB ) issues a final standard, it means the FASB has concluded that the benefits derived from the standard justify the cost of preparing and using that information.
  • View the full release here: https://www.businesswire.com/news/home/20200930005591/en/
    FASB's PIR process drives continuous improvement of accounting standards (Graphic: Business Wire)
    As illustrated by the attached infographic, stakeholder outreach and other research inform each phase of this important work.
  • In his recent LinkedIn article about the PIR process, FASB Chair Richard R. Jones noted, As with all standard-setting activities, quality input leads to quality standardseven after a standard is issued.
  • The FASB develops and issues financial accounting standards through a transparent and inclusive process intended to promote financial reporting that provides useful information to investors and others who use financial reports.

SASB Initiates New Standard-Setting Project to Address Content Governance in the Internet Media & Services Industry

Tuesday, September 22, 2020 - 2:00pm

San Francisco, Sept. 22, 2020 (GLOBE NEWSWIRE) -- The Sustainability Accounting Standards Board (SASB) unanimously voted to initiate a new standard-setting project to address content governance in the Internet Media & Services industry.

Key Points: 
  • San Francisco, Sept. 22, 2020 (GLOBE NEWSWIRE) -- The Sustainability Accounting Standards Board (SASB) unanimously voted to initiate a new standard-setting project to address content governance in the Internet Media & Services industry.
  • This project was approved at the September 18, 2020 public meeting of the Standards Board .
  • During the public meeting, the Standards Board also reviewed next steps on the standard-setting project related to Tailings Management in the Extractives sector.
  • The metrics presented by the staff were centered on the Metals & Mining industry and would be modified for the Coal Operations industry appropriately.

111, Inc. Announces Second Quarter 2020 Unaudited Financial Results

Thursday, August 20, 2020 - 9:35am

The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP.

Key Points: 
  • The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP.
  • The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP.
  • The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.
  • Reconciliation of the non-GAAP financial measures to the most comparable U.S. GAAP measures is included at the end of this press release.