4 IFRS for mining | IFRS 16 Leases – Practical application guidance© KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss

IFRS 6, Exploration for and evaluation of mineral resources, allows junior exploration companies to develop their own accounting policies 

IFRS 6 permits an entity to develop an accounting policy for recognition of exploration and 

The Life of a Mining Operation Key Accounting Issues 2) Development o Resource and reserve estimates o Capitalization of costs o Pre-production activities PricewaterhouseCoopers LLP o Cut-off between Development and Production o Closure provisions o Joint venture ownership structures 7 15th Americas School of Mines May 16,

AASB 6 Standards/Accounting & Auditing as made The Standard specifies the financial reporting for exploration for and evaluation of mineral resources. Administered by: Treasury General Comments: When applicable, this Standard supersedes AASB 1022 - Accounting for Extractive Industries - October 1989 and AAS 7 - Accounting for the Extractive Industries - November 1989.

How do you account for underground development costs for mining projects that have transitioned out of the exploration and evaluation phase? Prepared by Chartered Professional Accountants of Canada (CPA Canada) and the Prospectors and Developers Association of Canada (PDAC), Viewpoints: Applying IFRS in the Mining Industry — Underground Development Costs focuses on challenges faced when

Exploration and evaluation assets shall be measured at cost at recognition. After recognition, an entity shall apply either the cost model or the revaluation 

IAS 36 Impairment of Assets applies to the accounting for the impair b. substantive expenditure on further exploration for and evaluation of mineral 

5/7 · The elements of exploration and evaluation expenditure which can be capitalized as part of exploration and evaluation asset may include the following: Cost incurred in relation to geographical and geological factors studies. Cost incurred in determination of the commercial viability and technical feasibility for the extraction of mineral resource.

The value of expenditures on exploration for petroleum and natural gas and accounting for mineral exploration (paragraphs 8.46 - 8.65) which builds on 

a) its accounting policies for exploration and evaluation expenditures including the recognition of exploration and evaluation assets. (b) the amounts of