Disclosure Initiative - Amendments to IAS 1 - IDG

Date recorded:

At its meeting on September 13, 2016, the IFRS Discussion Group (IDG) discussed the clarifying amendments to IAS 1, Presentation of Financial Statements (which are effective January 1, 2016 and include additional guidance on the presentation of additional line items and subtotals in the financial statements, specifically the statements of profit or loss and financial position), and the Canadian Securities Administrators (CSA) Staff Notice 52-306 (Revised).  The Group members considered five specific questions related to the clarifying amendments to IAS 1 and the implications (if any) on the presentation and disclosure of additional subtotals in the financial statements.  The Group members also considered the interaction of disclosures that may be provided in the financial statements under IAS 1 with other relevant information (for example, non-GAAP financial measures and key performance indicators) that are discussed in the management commentary.

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