- GAAP (US GAAP): US Generally Accepted Accounting Principles
- Statutory profit (GAAP profit): Profit under accounting regulation - GAAP
- Underlying profit (Non-GAAP profit hay pro forma earnings): Accounting profit is adjusted by Board of Directors who thinks the adjustments are relevant to their company.
Fact: Non-GAAP profit is often higher than GAAP profit, just see Facebook financial statements.
By Fb/Nam Tran.
KVAS consulting
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