More Accurate and Reliable Uniform Earnings, P/E Ratios and Company Analytics Available for Over 5,000 Companies
CAMBRIDGE, MA / ACCESSWIRE / October 4, 2017 / The Valens Research database of Uniform Adjusted (UAFRS) corporate performance, equity valuation, and credit measures now covers more than 5,000 companies. The complete data set is accessible via Tullett Prebon Information (TPI), a leading provider of independent real-time price information from the global OTC financial and commodity markets. Valens Research is a globally recognized leader in financial and valuation analysis under Uniform Accounting a.k.a. Uniform Adjusted Financial Reporting Standards (UAFRS).
The growth in companies covered in the database is a testament to the demand coming from investors, exchanges, and financial advisors worldwide. This has driven TPI and Valens to steadily increase the coverage more reliable, comparable, and trend-analyzable data on firms’ financial performance and valuation metrics based on UAFRS, Uniform Accounting. UAFRS requires a rigorous process of semi-automated and manual deconstruction of financial statements line by line, then rebuilding them with consistent accounting standards.
Under Uniform Accounting, over 130 adjustments for material inconsistencies in as-reported financial statements are made in order to create like-for-like comparisons of corporate performance data across peers, industries, and time.
Some of the significant adjustments that are made under UAFRS cannot be automated because of their complexity. These include adjustments related to special write-offs, temporal tax effects, acquisition earnings, revenue and asset distortions, and the treatment of financial subsidiaries. These are necessary in order to arrive at the most accurate, useful, and usable representations of the financial activity of companies around the world.
Along with the automated adjustments involved under UAFRS, there are nearly 3,000 manual adjustments made on average per month across the 20 years of operating history for the 5,000 firms in the database. Also, further assessment is made on these adjustments when new quarterly or annual data rolls out — whether or not to carry over the same manual adjustments in the new period.
Joel Litman, President & CEO, and Chief Investment Strategist at Valens Research, commented: “Financial statement analysis under GAAP and IFRS as-reported financials is distorted to the point of mis-direction and poor decisions. Valens is focused on expanding coverage of firms restated to Uniform Accounting to serve investors and other users of financial statements globally.”
Valens Research has been vocal at major financial events, CFA programs, and universities about the failure of the FASB and IASB to combat the erosion in the quality and reliability of financial reporting. The firm cites significant research and case studies of how the level of distortions in as-reported earnings and other key indicators severely limit comparability, reliability, and the ability to extract insights from corporate financial data.
Litman added, “A global database of Uniform Accounting financial information, driven by consistent and transparent standards, ultimately helps to drive investor interest, increase liquidity, and reduce the cost of capital for firms globally.”
About Valens Research
Valens Research provides regularly updated, economically relevant and reliable corporate performance, equity valuation, and credit analytics by deconstructing and then reassembling each company’s financial statements into Uniform Adjusted Financial Reporting Standards (UAFRS) for each of over 5,000 companies around the world.
The wide range of current and potential clients includes virtually anyone dependent on understanding and analyzing business performance and valuation with comparability, reliability, and accuracy. Valens Research’s disciplined processes and analytics provide a valuable set of data and insights for users of financial statements of all kinds.
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Uniform Adjusted Financial Reporting Standards (UAFRS), also known as Uniform Accounting and Uniform Financial Reporting, represent an alternative set of standards for reviewing and analyzing financial statements aimed at creating more reliable and more comparable reports of corporate financial activity. UAFRS identifies more than 130 inconsistencies within GAAP and IFRS financial reporting that cause earnings, the balance sheet, and key financial metrics to be terribly distorted across peers and from year to year within single companies. UAFRS calls for repairing these distortions by adjusting the financials to adhere to one consistent set of accounting standards. This results in comparable and trend-analyzable Uniform EPS, Uniform Earnings, Uniform Assets, and other important metrics of corporate financial activity.
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SOURCE: Valens Research
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