Burford Capital to Release Financial Results and Announce Changes to Reporting Framework
New York, NY – Burford Capital Limited, a leading global finance and asset management firm specializing in law, has announced that it will release its financial results for the third quarter and full year ended December 31, 2024. The financial report will be made public on Monday, March 3, 2025, at 7:00 am Eastern Standard Time (EST) or 12:00 pm Greenwich Mean Time (GMT).
Financial Results
Investors and stakeholders are encouraged to review Burford’s financial performance during the 4Q24 and FY24 periods. The report will provide insights into the company’s financial health, growth, and operational efficiency. Burford’s financial results will be accessible via the company’s website and other relevant financial databases.
Changes to Reporting Framework
In conjunction with becoming a US domestic issuer effective January 1, 2025, Burford Capital has also announced changes to its financial reporting framework. The company will now adopt the Financial Accounting Standards Board’s (FASB) reporting standards, which are widely used by US-based companies. This change will result in Burford’s financial statements being more comparable with those of other US-listed companies.
The new reporting framework will include the following changes:
- Revenue will be recognized under the new “Overall” method, which recognizes revenue when it is earned, rather than when it is realized and collectible.
- Lease liabilities will be recognized under the new lease accounting standards, which will result in the recognition of right-of-use assets and lease liabilities on the balance sheet.
- The company will also provide enhanced disclosures regarding its financial instruments, including fair value measurements and sensitivity analysis.
Impact on Individuals
For individual investors holding Burford Capital shares, these financial results and reporting changes may impact their investment decisions. An analysis of the financial report will provide insights into the company’s performance, profitability, and future growth prospects. The changes to the reporting framework may also affect how investors compare Burford’s financial statements with those of other US-listed companies.
Impact on the World
Burford Capital’s decision to become a US domestic issuer and adopt the FASB reporting framework is a significant move for the company. This change will make Burford’s financial statements more comparable with those of other US-listed companies, enhancing transparency and comparability. Additionally, Burford’s leadership in adopting these changes may encourage other international companies to follow suit, leading to a more consistent reporting landscape across the globe.
Conclusion
Burford Capital’s announcement of its financial results for 4Q24 and FY24, along with the changes to its reporting framework, marks an important milestone for the company as it continues to grow and adapt to the evolving regulatory landscape. Individual investors and stakeholders are encouraged to review the financial report for insights into Burford’s performance and future prospects. The company’s decision to become a US domestic issuer and adopt the FASB reporting framework is a positive step towards increased transparency and comparability in the financial reporting industry.
