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Why We Need to Update Financial Reporting for the Digital Era

Harvard Business Review

In the meanwhile, companies increasingly resort to provision of proforma and non-GAAP reports, even though this practice is looked down upon by the SEC and is opportunistically misused by a few companies. Analysts increasingly rely on non-GAAP metrics.

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The U.S. Corporate Tax Code Is Broken. How Should We Fix It?

Harvard Business Review

The second and third questions raise enforcement and compliance issues — for the second question, things are clear. And given that we permit deferral of tax until repatriation in the current worldwide system, we similarly don''t necessarily care about that low rate paid by them on foreign profits. in inappropriate ways.