As will be discussed further in Part Three of this chapter, one of the primary purposes of the securities laws is to ensure that market participants have all the information they need to make sound investment decisions. When it comes to information about income, assets, and liabilities, companies must use a set of measurement and disclosure rules known as generally accepted accounting principles (GAAP). These rules are established by the Financial Accounting Standards Board, a private-sector organization whose promulgations have force-of-law status pursuant to authority delegated by the SEC. Disclosing material information in financial statements that was not prepared in accordance with GAAP subjects the company to potentially draconian liability for losses sustained in the market, as well as to civil and criminal penalties. A corporation fails to adhere to GAAP at its peril.

Question 

What are nontraditional financial metrics? In what ways are they helpful? Harmful?Explain.