The GAAP method
I agree with you that although the GAAP provides uniformity and consistency in accounting, they do not reflect the actual value of the company. The GAAP method neglects the items which have a material impact on the financial implications of the organization. In that account, I conquer with you that the company should not rely on the reports prepared using GAAP. The company should incorporate the non-GAAP numbers to ensure the disclosure of all the financial items that have a material impact on the financial statement. In that regards, the investors will be able to gauge the company according to its real value. For example, I like the way you have used the case study of the apple. The company depends a lot on its smartphone business to realize revenues and the GAAP requires the companies to use the subscription accounting which does not fully disclose the actual value of the company at the time of sales. The use of Non- financial numbers is thus the best way of financial reporting.