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SEC - Comments on Earnings Releases and Quarterly Reports

This is kinda interesting, in light of the Q request for guidance factors:

Apparently, this was an outcome of a President Trump request:

My two cents is that actual business time scales are much longer than quarterly, driven by practical time constraints like how long it takes to make products from scratch, build a client base that will pay for services, conduct research, acquire and integrate technology, etc. I guess there should be "alpha" in quarterly data, especially company guidance, since it is out of sync with reality.

I'm wondering if issuing guidance has effectively been reduced to practice? Is there a "guidance algorithm" that is commonly used? It's not like every quarter, companies say "Hmm? Now how are we gonna sort out how to issue guidance this quarter? Let's get the research team on this pronto!"