UAFRS

UAFRS is an alternative set of standards for reviewing and analyzing financial statements aimed at creating more reliable and comparable reports of corporate financial activity... UAFRS does not require management teams to restate their financials. UAFRS adjusts the reported financial statements to create as consistent a report of financial activity as possible, free of distortions from changing or inconsistent financial reporting policies from year to year or across firms... The UAFRS Council has identified more than 130 such inconsistencies in GAAP and IFRS accounting policies. (Generally Accepted Accounting Principles in the United States and International Financial Reporting Standards.) This means there are more than 130 reasons why company financial measures are incomparable to each other. This also makes company performance indicators incomparable over time, as these principles have changed over time, along with company's choice of electives.