Disclosure of Key Performance Indicators in the Oil and Gas Industry
Dec 16, 2016
On December 16, 2016, the Office of the Chief Accountant (OCA) of the Alberta Securities Commission issued a Financial Reporting Bulletin to bring attention to key oil and gas industry financial performance indicators and to provide guidance on appropriate communication of these indicators, in the context of International Financial Reporting Standards (IFRS).
Common oil and gas key performance indicators (KPIs) are:
- funds flow;
- netbacks; and
- finding and development costs.
While this discussion paper will focus on these KPIs, the OCA encourages reporting issuers to consider how the guidance may apply to other KPIs disclosed.
Download the Bulletin from the ASC's Web site.
