Accounting for Sandy presents challenges for companies
The damage from superstorm Sandy likely will not be classified as “extraordinary” for financial reporting purposes, according to a report from PricewaterhouseCoopers. Companies should consider using non-GAAP measures and additional disclosures in their financial reports to describe losses due to Sandy, but should be careful not to employ measures or disclosures that mislead, PwC advises. The Wall Street Journal/CFO Journal (tiered subscription model) (11/13)
