Accountingprofitandtax profit aretwoconceptseasilyconfused, according to differentfoundations and differentprincipals, there are not only differences but alsoconnections in them.
AccountingPrincipals also reports that American workers are misguided about the biggest drain on their finances, with 42% saying that commuting costs are their greatest expense and only 11% acknowledging that lunch is draining their wallets.
Earnings, on an adjusted basis, rose to 83 cents per share, from 74 cents per share, but sunk to 9 cents per share, from 67 cents per share, when measured by Generally Accepted AccountingPrincipals, or GAAP.