Response to the Financial Accounting Standards Board’s Invitation to Comment on Financial Key Performance Indicators for Business Entities
本文回应了FASB关于财务关键绩效指标的征求意见稿，回顾了美国及国际监管框架，总结了学术研究中的关键见解，并指出了利用新数据（如ASU 2024-03等）进行未来研究的机会。
ABSTRACT In April 2025, the Financial Reporting Policy Committee of the Financial Accounting and Reporting Section of the American Accounting Association submitted a comment letter to the Financial Accounting Standards Board (FASB) addressing the accounting for financial key performance indicators (KPIs) used by business entities. Financial KPIs, as defined by the FASB, are most commonly referred to as non-GAAP metrics in the academic literature. This paper reviews the current regulatory frameworks governing financial KPIs—both in the United States and internationally—and summarizes key insights from our letter alongside relevant academic research. It also highlights opportunities for future research, including important questions related to non-GAAP reporting that can now be explored using new data made available through ASU 2024-03, Disaggregation of Income Statement Expenses (issued November 2024), ASU 2023-07, Segment Reporting: Improvements to Reportable Segment Disclosures (issued November 2023), and IFRS 18, Presentation and Disclosure in Financial Statements (issued April 2024). JEL Classifications: M40; M41; M48.