International Financial Reporting Standards

ESAs issue a comment letter to the IFRS Foundation’s consultation

Retrieved on: 
Thursday, December 17, 2020
Accounting, European Insurance and Occupational Pensions Authority, European Union, Insurance regulation, European System of Financial Supervision, Government agencies, Financial services, International Financial Reporting Standards, Materiality, IFRS Foundation

The Chairs of the three European Supervisory Authorities, EBA, EIOPA and ESMA, have issued a comment letter to the IFRS Foundations consultation.

Key Points: 
  • The Chairs of the three European Supervisory Authorities, EBA, EIOPA and ESMA, have issued a comment letter to the IFRS Foundations consultation.
  • The joint the letter emphasises the following aspects: (i) the global challenges posed by sustainability for investors and other stakeholders and their call for a common set of standards; (ii) it is important to build on existing initiatives and to take key notions such as double materiality into account; (iii) it is necessary to address environmental, social and governance aspects beyond climate.
  • This letter follows on the June 2020 joint response to the European Commission in relation to the review of the Non-financial Reporting Directive (NFRD) in which the three Chairs acknowledged the need for a standardisation solution in Europe, while calling for the development of international standards in the medium term.
  • This letter follows on the June 2020 joint response to the European Commission in relation to the review of the NFRD in which the three Chairs acknowledged the need for a standardisation solution in Europe, while calling for the development of international standards in the medium term.

ErosSTX Releases Historical Pro Forma Financials

Retrieved on: 
Wednesday, December 16, 2020
Film & Motion Pictures, TV and Radio, Online, Consumer electronics, General Entertainment, Licensing (Entertainment), Technology, Entertainment, Financial statements, Pro forma, Business, Corporations, Income, International Financial Reporting Standards, Balance sheet, Accounting, Regulation S-X

Pro Forma Financials: The financial information included in the Form 6-K reflects certain pro forma adjustments to the historical consolidated Eros financial statements to (1) convert them from IFRS to U.S. GAAP accounting standards, and (2) conform their accounting and presentation policies to those applied by STX.

Key Points: 
  • Pro Forma Financials: The financial information included in the Form 6-K reflects certain pro forma adjustments to the historical consolidated Eros financial statements to (1) convert them from IFRS to U.S. GAAP accounting standards, and (2) conform their accounting and presentation policies to those applied by STX.
  • In the Form 6-K, these adjustments are detailed quantitatively in the financial statements, which include a bridge from the legacy figures to the pro forma figures, and qualitatively in the footnotes to the financial statements.
  • The pro forma balance sheet as of June 30, 2020 combines the historical audited balance sheet of STX and the March 31, 2020 historical audited balance sheet of Eros, on a pro forma basis as if the Merger had been consummated on June 30, 2020.
  • The pro forma combined income statement for the twelve months ended June 30, 2020, combine the historical statements of operations of STX and Eros on a pro forma basis as if the Merger had been consummated on July 1, 2019.

Drilling Intercepts 7.2 Meters Grading 26.0 g/t Gold and 27 g/t Silver, Including 1.2 Meters Grading 87.2 g/t Gold and 82 g/t Silver at Cerro Blanco

Retrieved on: 
Wednesday, December 16, 2020
Financial regulation, International Financial Reporting Standards

All forward-looking statements are made based on Bluestone's current beliefs as well as various assumptions made by Bluestone and information currently available to Bluestone.

Key Points: 
  • All forward-looking statements are made based on Bluestone's current beliefs as well as various assumptions made by Bluestone and information currently available to Bluestone.
  • These measures do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to similar measures presented by other issuers.
  • The Company believes that all-in sustaining costs ("AISC") more fully defines the total costs associated with producing gold.
  • Other companies may calculate this measure differently as a result of differences in underlying principles and policies applied.

Starcore Reports Q2 Results

Retrieved on: 
Tuesday, December 15, 2020
Financial statements, Economy of Canada, System for Electronic Document Analysis and Retrieval, International Financial Reporting Standards, Business, Economy, Income statement, Articles

Vancouver, British Columbia--(Newsfile Corp. - December 15, 2020) - Starcore International Mines Ltd. (TSX: SAM) ("Starcore" or the "Company") has filed the results for the second quarter ended October 31, 2020 for the Company and its mining operations in Queretaro, Mexico.

Key Points: 
  • Vancouver, British Columbia--(Newsfile Corp. - December 15, 2020) - Starcore International Mines Ltd. (TSX: SAM) ("Starcore" or the "Company") has filed the results for the second quarter ended October 31, 2020 for the Company and its mining operations in Queretaro, Mexico.
  • The full version of the Company's Financial Statements and Management's Discussion and Analysis can be viewed on the Company's website at www.starcore.com , or SEDAR at www.sedar.com .
  • All financial information is prepared in accordance with IFRS and all dollar amounts are expressed in thousands of Canadian dollars unless otherwise indicated.
  • The following table contains selected highlights from the Company's unaudited consolidated statement of operations for the three and six months ended October 31, 2020 and 2019:

Intimation of Filing of Form 20F for Financial Year ended March 31, 2020

Retrieved on: 
Tuesday, December 15, 2020
Vedanta Resources, Mining in India, Vedanta Limited, Companies, National Stock Exchange of India, International Financial Reporting Standards, Economy of India, Anil Agarwal

MUMBAI, India, Dec. 15, 2020 /PRNewswire/ -- Vedanta Limited's ('the Company') Form 20-F containing its audited consolidated financial statements under International Financial Reporting Standards (IFRS), for the year ended March 31, 2020 has been filed with the Securities and Exchange Commission and is available on the Company's website https://www.vedantalimited.com .

Key Points: 
  • MUMBAI, India, Dec. 15, 2020 /PRNewswire/ -- Vedanta Limited's ('the Company') Form 20-F containing its audited consolidated financial statements under International Financial Reporting Standards (IFRS), for the year ended March 31, 2020 has been filed with the Securities and Exchange Commission and is available on the Company's website https://www.vedantalimited.com .
  • For two decades, Vedanta has been contributing to India's growth story, currently contributing 1 percent of India's GDP.
  • The company is among the top private sector contributors to the exchequer with the highest ever contribution of INR 42,560 Crore in FY 2019.
  • Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange in India and has ADRs listed on the New York Stock Exchange.

TCS Group Holding PLC: Conversion of Class B Shares

Retrieved on: 
Monday, December 14, 2020
Oleg Tinkov, Tinkoff, International Financial Reporting Standards, Cycle racing, Business, Economy, Tinkoff Bank

TCS Group Holding PLC is an innovative provider of online retail and SME financial services.

Key Points: 
  • TCS Group Holding PLC is an innovative provider of online retail and SME financial services.
  • The Group is currently developing Tinkoff ecosystem, which offers financial and lifestyle services.
  • The Group was founded in 2006 by Russian entrepreneur Oleg Tinkov and has been listed on the London Stock Exchange since October 2013.
  • The 3Q 2020 IFRS net income of TCS Group Holding PLC amounted toRUB 12.6 bn.

'Surgutneftegas' PJSC: Information statement on disclosure by the issuer of condensed consolidated financial statements and on submission of the report on the review of interim condensed consolidated financial statements

Retrieved on: 
Friday, December 11, 2020
Accounting, Financial statements, Financial regulation, Corporate finance, Business, International Financial Reporting Standards, Audit, Auditing, Regulation S-X, International Public Sector Accounting Standards

Type of the consolidated financial statements of the issuer: interim condensed consolidated financial statements (unaudited)

Key Points: 
  • Type of the consolidated financial statements of the issuer: interim condensed consolidated financial statements (unaudited)
    Reporting period for which the consolidated financial statements of the issuer are compiled: for the six months ended 30 June 2020.
  • Standards of accounting (financial) statements in accordance with which the consolidated financial statements are compiled: International Financial Reporting Standards (IFRS).
  • Website where the issuer published the text of the interim condensed consolidated financial statements and the report on the review of interim condensed consolidated financial statements of the issuer in accordance with the standards on auditing:
    Date of the report on the review of interim condensed consolidated financial statements of the issuer in accordance with the standards on auditing: 11.12.2020.
  • Date when the issuer published on the website the text of the interim consolidated financial statements and the report on the review of interim condensed consolidated financial statements: 11.12.2020.

Annual Report and Accounts 30 September 2020

Retrieved on: 
Thursday, December 10, 2020
Financial statements, Daily Mail and General Trust, Conservatism in the United Kingdom, International Financial Reporting Standards, Annual report, Daily Mail, Companies of the United Kingdom, Business, Companies

A copy of Daily Mail and General Trust plc's (DMGT) 2020 Annual Report and Accounts, the Notice of Annual General Meeting, Form of Proxy and web default letter (for those shareholders opting for electronic communications) have been uploaded to the UKLA National Storage Mechanism and will be available within two business days.

Key Points: 
  • A copy of Daily Mail and General Trust plc's (DMGT) 2020 Annual Report and Accounts, the Notice of Annual General Meeting, Form of Proxy and web default letter (for those shareholders opting for electronic communications) have been uploaded to the UKLA National Storage Mechanism and will be available within two business days.
  • As required by DTR 6.3.5 (1), we set out below the Directors' responsibilities statement contained within the Annual Report as follows:
    "Each of the Directors confirms that, to the best of his/her knowledge:
    * the Group Financial Statements, which have been prepared in accordance with IFRS as adopted by the EU, give a true and fair view of the assets, liabilities, financial position and profit of the Group; and
    * the Strategic Report contained on pages 2 to 47 includes a fair review of the development and performance of the business and the position of the Group, together with a description of the principal risks and uncertainties that it faces."
  • All the other information required by DTR 6.3.5 (1) was contained within the announcement of DMGT's results for the year ended 30 September 2020 released to the market in unedited full text on Monday 23 November 2020.
  • For the purposes of the Transparency Directive, the Home Member State of Daily Mail and General Trust plc is the United Kingdom.

Alamos Gold Provides 2021 Production and Operating Guidance

Retrieved on: 
Wednesday, December 9, 2020
Cash flow, Business, Management accounting, Accounting, Articles, Free cash flow, Operating cash flow, International Financial Reporting Standards

The SEC Modernization Rules will become mandatory for U.S. reporting companies beginning with the first fiscal year commencing on or after January 1, 2021.

Key Points: 
  • The SEC Modernization Rules will become mandatory for U.S. reporting companies beginning with the first fiscal year commencing on or after January 1, 2021.
  • The Company believes that investors use certain non-GAAP and additional GAAP measures as indicators to assess gold mining companies.
  • Mine site free cash flow is a non-GAAP measure which includes cash flow from operating activities at, less capital expenditures at each mine site.
  • Cost per tonne of ore is usually affected by operating efficiencies and waste-to-ore ratios in the period.

Standard Insurance Limited Becomes Latest African Firm to Select Moody’s Analytics IFRS 17 Solution

Retrieved on: 
Thursday, December 10, 2020
Software, Insurance, Finance, Banking, Data management, Accounting, Professional services, Technology, International Financial Reporting Standards, Actuarial science, Financial services, IFRS 17, Economy, Finance, IFRS 1, Accounting standard, Insurance, IFRS 4, Moody’s Analytics, Standard Insurance Limited

Moodys Analytics today announced that Standard Insurance Limited, the insurance arm of Johannesburg-based Standard Bank Group and one of South Africas leading insurance providers, has selected the Moodys Analytics RiskIntegrity for IFRS 17 solution to support its adoption of the new IFRS 17 accounting standard.

Key Points: 
  • Moodys Analytics today announced that Standard Insurance Limited, the insurance arm of Johannesburg-based Standard Bank Group and one of South Africas leading insurance providers, has selected the Moodys Analytics RiskIntegrity for IFRS 17 solution to support its adoption of the new IFRS 17 accounting standard.
  • Standard Insurance Limited will use the RiskIntegrity for IFRS 17 solution as a software-as-a-service (SaaS) offering, allowing the firm to deploy the software immediately and accelerate its IFRS 17 implementation while benefiting from greater flexibility and ongoing cost savings.
  • The RiskIntegrity for IFRS 17 solution connects data, models, systems, and processes between actuarial and accounting functions, helping Standard Insurance Limited meet the new financial reporting obligations.
  • Moodys Analytics ticked all of those boxes, said Dr Nolwandle Mgoqi-Mbalo, Chief Executive at Standard Insurance Limited.