This year, Patrick Byrne and company have taken a liking to discussing the Overstock.com (NASDAQ: OSTK) financials using non-GAAP measures. This means that they present certain financial figures that are not computed in accordance with GAAP (accounting rules).
Who cares? As long as they disclose that they’re non-GAAP measures, it doesn’t matter, right? Wrong. You see, companies use non-GAAP measures for one of two things: