AASB 6-compiled 4 COMPARISON Comparison with IFRS 6 AASB 6 Exploration for and Evaluation of Mineral Resources as amended incorporates IFRS 6 Exploration for and Evaluation of Mineral Resources as issued and amended by the International Accounting Standards Board (IASB). Practical guidance on this standard is now on our main IFRS 6 Exploration For and Evaluation of Mineral Rights page, with links to eIFRS, the full text standard, eBooks and other resources. T.P. IFRS 6 — Exploration for and Evaluation of Mineral Resources IFRS 6 – Exploration for and Evaluation of Mineral Resources Previous Section Next Section to expenditures incurred by an entity in connection with the exploration for and evaluation of mineral resources (including minerals, oil, natural gas and similar non-regenerative resources). As at 1 July 2015 IFRS 6 Exploration for and Evaluation of Mineral Resources Effective Date Periods beginning on or after 1 January 2006 . Ghosh and Dr. Yass A. Alkafaji, wiley 2010 • IFRS 6 Exploration for and Evaluation of Mineral Resources- EC Staff consolidated 2 | IFRS 6 Exploration ror and Evaluation of Mineral Resources 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. This summary is not comprehensive and should be considered only in conjunction with review and consideration of the requirements of IFRS 6 -Exploration for and Evaluation of Mineral Resources on November 16, 2020 Get link Facebook Twitter Pinterest Email Other Apps Ø WHEN IFRS 6 IS APPLICABLE? For the requirements reference must be made to International Financial Reporting Standards. The exploration and evaluation asset will be reclassified to the other relevant standards, when the commercial viability and technical feasibility for the extraction of mineral resources has been demonstrated, such as capitalized extractive activities that would supersede IFRS 6 Exploration for and Evaluation of Mineral Resources. ELEMENTS OF COST OF EXPLORATION AND EVALUATION ASSETS Specific quantitative 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. IFRS 6 Exploration for and Evaluation of Mineral Resources Last updated: March 2017 This communication contains a general overview of the topic and is current as of March 31, 2017. The application of the principles addressed will Tìm hiểu định nghĩa về Exploration and evaluation assets (tiếng Việt gọi là Các tài sản phát sinh từ hoạt động thăm dò và đánh giá) theo quy định của IFRS. PwC application guidance on recognition, measurement, presentation, impairment, disclosure Latest developments In October 2011 the IFRS IC published IFRIC 20, 'Stripping costs in the production phase of a surface mine'.. IFRS 6 applies to exploration and evaluation expenditures, i.e. IFRS 6 must not be applied to expenditures incurred before the exploration for and evaluation of mineral resources or after the technical feasibility and commercial viability of extracting a mineral resource are demonstrable. IFRS 6 Exploration for and Evaluation of Mineral Resources This Basis for Conclusions accompanies, but is not part of, IFRS 6. 3 An entity shall apply the IFRS to exploration and evaluation expenditures that it incurs. 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