CSA Staff Notice 52-306 Non-GAAP Financial Measures
Part IV Disclosing Additional Subtotals before Filing Financial Statements

Lexata note: As of August 25, 2021, this staff notice has been replaced by new NI 52-112, with some exceptions for annual materials in respect of 2020. See Part 5 of the new rule for transition details.

Disclosing Additional Subtotals before Filing Financial Statements

An issuer`s GAAP may require the presentation of additional subtotals in the financial statements when such presentation is relevant to an understanding of the issuer’s financial position or financial performance. An example of this requirement is found in paragraphs 55 and 85 of IAS 1 Presentation of Financial Statements (IAS 1). An issuer may choose to present these additional subtotals in a press release or some other location outside of an issuer’s financial statements before filing on SEDAR its financial statements. In order to avoid any confusion about these additional subtotals, management should explain their composition. This may be accomplished by:

  • including a copy of the statement that contains these additional subtotals (for example, the statement of profit or loss and other comprehensive income), or
  • reconciling these additional subtotals to the most directly comparable line item specified or defined by IFRS that will be presented in financial statements (for example, profit or loss).