Adoption of IFRS 16: Non-GAAP Financial Measures and Reserves Reporting Considerations

Adoption of IFRS 16: Non-GAAP Financial Measures and Reserves Reporting Considerations

IFRS 16 represents a significant change in the way operating leases are accounted for by lessees, with significant impacts on balance sheet, income statement, and cash flow statement presentation and disclosure. The Alberta Security Commission’s (ASC) Office of the Chief Accountant has provided insight on the impact of the adoption of IFRS 16 on reporting non-GAAP financial measures and the regulatory requirements around oil & gas disclosures. This is invaluable information, particularly for those Alberta CPAs involved with companies that are listed on the ASC. Read more in the OCA’s Financial Reporting Bulletin HERE!

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