SEC Top Focus Areas - Non GAAP Financial Measures (Video) (Course Id 1992)

• Who is this course for?
  This 1‑credit NASBA QAS video‑plus‑text preview course is aimed at CPAs, accounting professionals, and financial reporting staff who need a focused insight into SEC scrutiny of non‑GAAP financial measures.

• What is this course about or what problem does this course solve?
  It provides an overview of non‑GAAP disclosures, including SEC and FASB guidance as well as comment letter analysis from Big 4 firms—highlighting why non‑GAAP measures frequently trigger SEC scrutiny and enforcement.

• How can the knowledge from this course be used?
  Learners will learn to distinguish GAAP vs. non‑GAAP measures, label and reconcile them properly, avoid misleading adjustments, and ensure compliance with Regulation G and Item 10(e) of Regulation S‑K regarding prominence and disclosure.

• Why is this course important to a CPA, Accountant, or IRS Enrolled Agent?
  Non‑GAAP measures consistently rank among the most frequent SEC comment letter topics. Understanding the rules reduces regulatory and litigation risks, supports accurate investor communication, and reinforces financial transparency.

• When is this course relevant or timely?
  Released in 2022 and revised in March 2024, the course remains timely as the SEC continues to update its compliance and disclosure interpretations, and FASB considers broader standardization of non-GAAP metrics in 2025.

• How is a course like this consumed or used?
  Delivered as a NASBA‑approved self‑study video + text course, it includes review questions and a final exam (70% passing threshold); learners earn 1.0 CPE credit upon successful completion within one year via the provider’s platform.

This course provides an overview of non-GAAP financial measures with a particular emphasis on comments from the SEC, the FASB, as well as comment letter analysis from several of the Big 4 accounting firms.  Non-GAAP financial measures continue to rank at the top of the most frequent comment letters issued by the SEC.  As a result, it’s important to understand the guidance with respect to these measures to ensure that a company’s financial statements remain GAAP compliant and are not misleading.

Video - NASBA QAS - Text - NASBA Registry - 1992

Course Learning Objectives

• Distinguish between a GAAP and a non-GAAP financial measure
• Recognize examples of different types of non-GAAP financial measures
• Identify SEC guidance applicable to types of non-GAAP financial measures
• Recognize disclosures within the scope of Regulation G and Regulation S-K

Chapter 1 - SEC Top Focus Areas - Non GAAP Financial Measures

Chapter 1 Review Questions

Glossary of Key Terms