Stock Profits: Getting to the Core—New Fundamentals for a New Age

variations in formats of reporting are found on corporate Web sites.

As a matter of corporate governance, the format used by corpora-

tions should be as strictly consistent as the accounting rules them-

selves. We will eventually arrive at a universally agreed-upon set of

rules for making core earnings adjustments. Part of the reform should

also include guidelines by which corporations format and present

their financial statements, analysis, and notes.

The Concept of Corporate Governance

The idea of corporate governance usually refers solely to the man-

ner in which executives act, including degrees of leadership, ethics

and honesty, and modes of reporting ...