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INTERNATIONAL FINANCIAL REPORTING STANDARD 6 EXPLORATION FOR AND EVALUATION OF MINERAL RESOURCES. OBJECTIVE. SCOPE. RECOGNITION OF EXPLORATION AND EVALUATION ASSETS. Temporary exemption from IAS 8 paragraphs 11 and 12. MEASUREMENT OF EXPLORATION AND EVALUATION ASSETS. Measurement at recognition. Elements of cost of exploration and evaluation assets
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.
The objective of this IFRS is to specify the financial reporting for the exploration for and evaluation of mineral resources. In particular, the IFRS requires: . limited improvements to existing accounting practices for exploration and evaluation expenditures.
IFRS 6 EXPLORATION FOR AND EVALUATION OF MINERAL RESOURCES. FACT SHEET. This fact sheet is based on existing requirements as at 31 December 2015 and does not take into account recent standards and interpretations that have been issued but are not yet effective. IMPORTANT NOTE.
Overview. 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.
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. The objective of this IFRS is to specify the financial reporting for the exploration for and evaluation of mineral resources.
