Alternativní měřítka výkonnosti v sektoru Software a ICT služeb

The Increasing use of non-standard performance indicators by publicly traded companies recently led to the investigation of its transparency and possible impact on investors. Based on the increased presence of alternative performance measures, The European Securities and Market Authority‘s (ESMA) Guidelines on Alternative Performance Measures has been introduced. In addition to this, the International Accounting Standard Board (IASB) has implemented the project Better Financial Communication. The purpose of the project is to introduce an amendment limiting the presentation of APM (alternative performance measures). The first aim of the following thesis is to sum up the most important regulation of APM presentation within the USA and Europe. The second aim is to evaluate the presence of APM in the sector of Software & Computer Services. The theoretical portion defines the term APM, sums up the most important regulation in the USA and Europe, and provides an overview of the most typical APM. The practical portion is based on the empirical research, which has been conducted on hand-collected data gathered from annual reports (with the reporting period ending in the year of 2019) of 66 companies being included in the sector of Software & Computer Services in the stock index Stoxx 600. The research has shown that all of the companies analyzed presented at least one APM. The most frequently used APMin the financial statements was operating profit. However its calculation across all companies was not uniform. Out of the financial statements, EBITDA was the most common. The most common adjustments were related to business combinations and restructuring.