International Financial Reporting Standards requirements

TerrAscend Reports Record Third Quarter 2020 Net Sales of $51 Million and Adjusted EBITDA(1) of $17.8 Million

Retrieved on: 
Thursday, November 19, 2020
Finance, Economy, Money, United States Generally Accepted Accounting Principles, Financial regulation, International Financial Reporting Standards, Valuation, Earnings before interest, taxes, depreciation and amortization, Financial ratio, Income, Fair value, International Financial Reporting Standards requirements

Certain financial measures in this news release are non-IFRS measures, including EBITDA, Adjusted EBITDA, and Adjusted Net Income.

Key Points: 
  • Certain financial measures in this news release are non-IFRS measures, including EBITDA, Adjusted EBITDA, and Adjusted Net Income.
  • These terms are not defined by IFRS and, therefore, may not be comparable to similar measures provided by other companies.
  • The Company measures Adjusted net income as Net Income / (loss) plus revaluation of contingent consideration plus net increase in fair value of warrant and derivative liabilities.
  • Except as required by applicable Canadian securities laws, TerrAscend undertakes no obligation to update the financial outlook.

Kentucky First Federal Bancorp Releases Fiscal Year Results

Retrieved on: 
Monday, September 21, 2020
Balance sheet, Money, Economy, Asset, Asset and liability management, Impaired asset, Impairment, Market liquidity, Goodwill, Book value, International Financial Reporting Standards requirements, Consolidated financial statement

This compares to net income of $300,000 or $0.04 per common share for the quarter ended June 30, 2019.

Key Points: 
  • This compares to net income of $300,000 or $0.04 per common share for the quarter ended June 30, 2019.
  • The impairment charge represents an accounting transaction which had no impact on cash flows, liquidity, or key capital ratios of the Company or its bank subsidiaries.
  • Based on this analysis, the estimated fair value of the Company was less than book value, resulting in the $13.6 million goodwill impairment charge.
  • The Company sells its long-term fixed rate loans to the Federal Home Loan Bank of Cincinnati as part of its asset/liability management strategy.

Avast plc Full Year Results For The Year Ended 31 December 2019

Retrieved on: 
Wednesday, February 26, 2020
Economy, Money, Articles, Leasing, Financial regulation, International Financial Reporting Standards, Financial statement, IFRS 16, Asset, International Financial Reporting Standards requirements

Further definitions (see 'PRESENTATION OF RESULTS AND DEFINITIONS') and reconciliations (see 'FINANCIAL REVIEW') of non-GAAP measures are included in the notes to the financial statements.

Key Points: 
  • Further definitions (see 'PRESENTATION OF RESULTS AND DEFINITIONS') and reconciliations (see 'FINANCIAL REVIEW') of non-GAAP measures are included in the notes to the financial statements.
  • 8 On 1 February 2019 Avast plc sold the non-core asset of Managed Workplace, its remote monitoring and management product, to Barracuda Networks, Inc. ('Barracuda').
  • In the year ended 31 December 2018 the asset generated low teen revenue (USD million) with a materially lower margin profile than the Group.
  • Net Debt as of 31 December 2018 adjusted for opening balance of IFRS 16 lease liabilities would be $1,209.9m.

Chinook Energy Inc. Announces Initiation of Strategic Review Process and Third Quarter of 2019 Operating and Financial Results

Retrieved on: 
Thursday, November 7, 2019
Accounting, Liability, Provision, Business, Expense, Economy, Management accounting, Costs, Cash flow, Profit, International Financial Reporting Standards requirements

As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.

Key Points: 
  • As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.
  • We use net production expense to determine the current periods' cash cost of operating expenses and net production and operating expense per boe is used to measure operating efficiency on a comparative basis.
  • This measure approximates our operating costs relative to only our volumes by excluding the approximated operating costs resulting from third party processing and gathering services.
  • We exclude the current portion of provisions, lease liabilities and the deferred customer obligation as they are not financial instruments.

Chinook Energy Inc. Announces Second Quarter of 2019 Operating and Financial Results

Retrieved on: 
Thursday, August 8, 2019
Accounting, Liability, Provision, Business, Expense, Economy, Management accounting, Costs, Cash flow, Profit, International Financial Reporting Standards requirements

As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.

Key Points: 
  • As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.
  • We use net production expense to determine the current periods' cash cost of operating expenses and net production and operating expense per boe is used to measure operating efficiency on a comparative basis.
  • This measure approximates our operating costs relative to only our volumes by excluding the approximated operating costs resulting from third party processing and gathering services.
  • We exclude the current portion of provisions, lease liabilities and the deferred customer obligation as they are not financial instruments.

ESMA sets out expectations regarding application of IAS 12

Retrieved on: 
Tuesday, July 16, 2019
Accounting, Tax accounting, Financial statements, Corporate finance, Business, Financial regulation, International Financial Reporting Standards, IAS 12, IAS 1, Deferred tax, International Financial Reporting Standards requirements, Income statement

15 July 2019

Key Points: 
  • 15 July 2019

    IAS Regulation

    The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, haspublishedtoday a Public Statement on IAS 12 Income Taxes, setting out its expectations regarding the application of the requirements relating to the recognition, measurement and disclosure of deferred tax assets (DTAs) arising from unused tax losses in IFRS financial statements.

  • This Public Statement aims to promote consistent application of IFRS across the European Union, and includes key messages that issuers, auditors and audit committees should take into account when recognising deferred tax assets in their financial statements, thereby providing insights on issues on which European enforcers usually challenge issuers.
  • The Public Statement stems from the findings and discussions of the European Enforcers Coordination Sessions (EECS), where several cases highlighted that significant divergence exists in the application and enforcement of the requirements on deferred tax losses arising from unused tax losses carried forward.
  • ESMA and National Competent Authorities will continue to monitor the application of the requirements set out in IAS 12 and will pay attention to the issue highlighted in this Public Statement when performing examinations of financial statements.