The regulator of a publicly traded mining company must make a string of proposals to the chief executive officer and chief financial officer of the organization as the business arranges for adopting international financial reporting standards (IFRS). Major conclusions revolve around accounting for mining properties and the business's fixed assets.
Particularly whether to capitalize or expense specific items, whether to record specific assets at their values of historical costs, the company's depreciation policy and other issues around damages of capital assets. The accountant also considers the recent IASB discussion paper on accounting for extractive resources and potential implications to the business going forward.
PUBLICATION DATE: August 17, 2011 PRODUCT #: W11233-PDF-ENG
This is just an excerpt. This case is about FINANCE & ACCOUNTING
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