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Exploration for and Evaluation of Mineral Resources. In December 2004 the International Accounting Standards Board issued IFRS 6 Exploration for and Evaluation of Mineral Resources. Amendments to References to the Conceptual Framework in IFRS Standards (issued March 2018).
A principal purpose of IFRS 6 is to specify the circumstances in which entities should test exploration and evaluation costs for impairment, and when to require disclosure of information about such assets.
IFRS 6 Exploration for and Evaluation of Mineral Resources has the effect of allowing entities adopting the standard for the first time to use accounting policies for exploration and evaluation assets that were applied before adopting IFRSs. It also modifies impairment testing of exploration and evaluation assets by introducing different ...
21 sie 2024 · IFRS 6 Requirements: Understand the key aspects of IFRS 6, including scope, recognition, and measurement. Capitalization vs. Expensing: Get guidance on when to capitalize or expense exploration and evaluation (E&E) costs.
The IPSASB adopted the existing private sector requirements in IFRS 6, Exploration for and Evaluation of Mineral Resources. Guidance to account for the benefits that may arise from the waste removal activity of a surface mine.
INTERNATIONAL FINANCIAL REPORTING STANDARD 6 EXPLORATION FOR AND EVALUATION OF MINERAL RESOURCES. OBJECTIVE. 1. SCOPE. 3. RECOGNITION OF EXPLORATION AND EVALUATION ASSETS. 6. Temporary exemption from IAS 8 paragraphs 11 and 12. 6. MEASUREMENT OF EXPLORATION AND EVALUATION ASSETS. 8. Measurement at recognition. 8.
IFRS 6 Exploration for and Evaluation of Mineral Resources has the effect of allowing entities adopting the standard for the first time to use accounting policies for exploration and evaluation assets that were applied before adopting IFRSs.
