We apply 130+ Uniform Accounting adjustments across 25,000+ companies.
GAAP and IFRS give management teams wide discretion. Two identical businesses can report very different earnings, and the distortions flow straight into the P/E ratios, ROA figures and screeners most research is built on.
Acquisitions bury operating performance under goodwill and impairment noise. Leases, pensions and other off-balance-sheet items hide leverage. R&D and other long-term investments run through the income statement as expenses, so heavy investors look less profitable than they are.
Illustrative figures: Example Co. is not an actual company, and these are example figures, not data for any company. Not a recommendation.
The direction of the adjustment differs for every business, and some companies look worse under Uniform Accounting. Once you see what’s really under the hood, you can judge whether the stock is worth buying.
FA Alpha fixes the numbers first, then layers valuation, earnings call forensics and credit analysis on top. The work shows up in the FA Alpha 50, FA Alpha Pulse, FA Alpha Academy and FA Alpha Daily.
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As-reported statements can hide or distort profitability and valuation. Uniform Accounting adjustments make comparisons clearer, and valuation, earnings call forensics and credit work add context.
No. FA Alpha is a research publication. We publish analysis for advisors to evaluate for their own clients. It isn’t a personalized recommendation or a promise of performance.
Uniform Accounting (UAFRS) is a framework of more than 130 adjustments that puts as-reported financial statements on one comparable basis. It removes distortions from goodwill, leases, expensed investment, and other accounting choices so profitability and valuation can be compared apples to apples.
Most research is built on as-reported numbers, so it inherits their distortions. FA Alpha starts by fixing the numbers, then layers valuation, earnings call forensics, and credit work on top, with practical guidance in the Knowledge Base.
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