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No. of Recommendations: 2
Accountants don't care much. Not their problem. They're all about counting every tree properly and letting the forest take care of itself. That's why many young and fast-growing companies report non-GAAP as well. That's so they can tell their investors how they think the company is doing in a meaningful way. - IGU

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Our small company has a Line of Credit with our bank and also with a Private business Lender. In both cases, one of the condtions is that we provide regular financial reports to the lender. Once a year, the P&L and Balance sheet must be reviewed and certified by an outside CPA. The CPA firm we use holds us to the letter of law regarding GAAP which I think is a good thing.

This a long way of saying, I don't see how a company can just decide to skip GAAP and still have access to commercial credit markets. Maybe they are living off of cash flow or VC funding or something.
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