Using a large sample of earnings press releases by Australian firms, we compare multiple attributes of non-GAAP earnings measures with their closest GAAP equivalent. We find that, on average, non-GAAP earnings are more persistent, smoother, more value-relevant, and have higher predictive power...

This study examines the heterogeneity of fiscal year-end choice in Australia. We document substantial differences in the ‘‘popularity'' of balance sheet dates over 1989-2010, and an increasing preference of June year-ends in recent years. 81% of Australian firms choose June to align with the...

This study investigates the impact of mandatory adoption of International Financial Reporting Standards (IFRS) on accrual reliability (Richardson et al. 2005). Using a large sample of Australian firm years drawn from before and after the mandatory adoption of IFRS, we find that accrual...