CFA Institute recommendations on quarterly reporting
May 29, 2007
The CFA Institute Centre for Financial Market Integrity and the Business Roundtable Institute for Corporate Ethics have jointly published Apples to Apples: A Template for Reporting Quarterly Earnings.
Excerpts from Recommendations
To better enable all financial statement users to make consistent, apples-to-apples comparisons among quarterly financial reports, we recommend that all public companies voluntarily adopt a consistent template for quarterly earnings releases. The template would provide management with a user-friendly format in which to highlight issues of importance in an informative and concise manner. These recommendations are based on a comprehensive review of quarterly earnings announcements from a number of companies and discussions with financial experts and users of financial statements.
In order to improve the quality of communications between companies and investors, we strongly urge companies to issue quarterly earning reports that: