You are a partner in a regional CPA firm, Swearingen & Gray, with 14 offices covering the Eastern United States. Your firm routinely publishes and distributes reports to its clients that cover current accounting and financial reporting topics. You have been asked by James Swear- Ingen, the managing partner of your firm, to prepare such a report on the use of non-GAAP measurements in annual reports, an issue about which the SEC has recently voiced serious concern. In your report, Mr. Swearingen has asked you to cover these topics and others you consider important.

 • What are some of the more commonly used non-GAAP measurements? 

• Why is the SEC concerned about the use of such measurements? Do the necessary research for this project and write the report for Mr. Swearingen. Write a detailed report from at least 2