An excerpt from Section 10.2 of the Management Discussion and Analysis in the 2014 annual report of BCE Inc. is shown below. The excerpt shows summarized financial information, including calculations of earnings before interest, tax, depreciation, and amortization (EBITDA), and adjusted net earnings-both non-GAAP earnings measures. The company provides information on these calculations, which is also shown.
Instructions
Read the excerpts below. Discuss the pros and cons of management's decision to report additional earnings numbers outside of the traditional audited financial statements. In the case of this company, in your opinion, do you think that this presentation provides good, useful information?