No abstract

We examine disagreement between management and Thomson Datastream over the persistence of earnings components. Using income statement and footnote disclosures, we identify the source and properties of disputed items. Disagreements typically reflect opaque reporting practices (for example, in the case of transitory operating items) and restrictive classification rules (for example, in the case of discontinued operations). Incremental and relative value relevance tests suggest that the majority of management-specific adjustments reflect appropriate classification of earnings components by insiders. Nevertheless, evidence consistent with strategic disclosure does emerge for a subset of management adjustments.

• Non-invasive diagnosis of non-neoplastic cysts can save surgical biopsy or excision. • Conventional CT or MRI findings cannot always provide a confident diagnosis. • Mediastinal masses can be well-characterised with DWI. • Non-neoplastic mediastinal cysts show significantly higher ADC values than cystic tumours. • DWI is useful to determine treatment strategy.