Impact Of Ifrs Mining

  • International Financial Reporting Standards pdac.ca

    to International Financial Reporting Standards (IFRSs). Companies are advised to make the necessary preparations well in advance of this date. The following is a list of resources that are available to help companies convert to the new standards. The list will be updated as and when necessary. Courses and training IFRS for exploration companies in the mining industry This twoday interactive

  • Impact Of Ifrs Mining royalrajasthanonwheels.co

    Leases – A summary of IFRS 16 and its effects. This document summarizes very well possible impacts for LESSEES et LESSORS Content: IFRS 16 Leases Roadmap Definition of Lease Overview of IFRS 16 Leases Lessees will have a single accounting model for all leases, two exemptions ('lowvalue assets' and shortterm leases) Lessor accounting is

  • Mining companies must prepare for new accounting standards

    Feature Mining companies must prepare for new accounting standards IFRS (International Financial Reporting Standards) has been on the radar in Canada for a number of years.

  • IFRS 15 Revenue from Contracts with Customers Guide

    IFRS 15 Revenue from Contracts with Customers and ASC 606 Revenue from Contracts with Customers replace all existing revenue recognition guidance under IFRS and United States' Generally Accepted Accounting Principles (US GAAP), respectively. Many IFRS users have previously referred to US GAAP in the absence of specific IFRS revenue guidance. The new IFRS 15 and ASC 606 move

  • Mining sector Clearly IFRS Deloitte

    Mining sector Clearly IFRS Industry insights for IFRS 15 New revenue Standard could impact profile of revenue and profit recognition What's happened? The International Accounting Standards Board (IASB) has published a new Standard, IFRS 15 Revenue from Contracts with Customers ('the new Standard'). The new Standard outlines a single comprehensive model of accounting for revenue arising

  • The new revenue recognition standard mining & metals

    • Mining and metals entities may find it challenging to assess the impact of IFRS 15, in particular, when evaluating whether a contract is in scope, determining when control transfers to a

  • Implementing IFRS 15 frascanada.ca

    Although we have made progress in our implementation of IFRS 15, it is not yet possible to make a reliable estimate of the impact of the new standard on our financial statements as we are required to implement significant changes to our systems and processes across the

  • Incremental Borrowing Rate Lease Accounting

    A guide to the incremental borrowing rate: Assessing the impact of IFRS 16 "Leases" In this paper Deloitte offers a straightforward, three step approach to calculate the incremental borrowing rate, or IBR, which will be required under the modified retrospective approach of IFRS

  • IFRS 15 and Mining moorestephens.au

    in the mining industry. IFRS 15 is not the silver bullet to eliminate this divergence. IFRS 15 doesn't exclude revenue arising from the extraction of mineral ores but will only apply where a contract with a customer exists. IFRS 15.6 highlights: 'A counterparty to the contract would not be a customer if, for example, the counterparty has contracted with the entity to participate in an

  • Impact of IFRSs on the Mining Industry City of Abbotsford

    IFRS for The Mining Industry Objective •Provide a highlevel awareness of general and key issues •Focus on junior and midsize entities •This isnt a substitute for reading the standards

  • Mining sector Clearly IFRS Industry insights for IFRS 15

    Mining sector Clearly IFRS Industry insights for IFRS 15 Should revenue be adjusted for the effects of the time value of money? IFRS 15 introduces new and more extensive guidance on financing arrangements and the impact of the time value of money.

  • The Impact of IFRS Adoption on Earnings Management in the

    The study investigates whether the Adoption of IFRSsbased standards has an effect on Earnings Management specifically in the Banking and Mining sectors. There is however a limitation of the

  • The Effect of IFRS on the Financial Ratios of Canadian

    College of Business and Technology Honors Thesis Signature Approval Form The Effect of IFRS on the Financial Ratios of Canadian Public Mining Companies

  • impact of ifrs mining alsds

    IFRS and the mining industry IAS Plus. IFRS and the mining industry Top ten accounting issues for Canadian issuers have a significant impact on opening equity and on future earnings.

  • Industry insights for IFRS 15 Deloitte US

    IFRS 15: Revenue from Contracts with Customers. At the end of May 2014, IFRS 15: Revenue from Contracts with Customers (IFRS 15) was released. This standard outlines a single comprehensive model of accounting for revenue arising from contracts with customers and supersedes current revenue recognition guidance.

  • Collins Barrow partner addresses impact of IFRS on mining

    TORONTO, ON, Oct. 17, 2012 /CNW/ Collins Barrow Audit and Assurance Partner Maruf Raza recently spoke at the Alternative Finance Conference as part of a panel addressing the impact of International Financial Reporting Standards (IFRS) on the Canadian mining sector.

  • IFRS 16 – The Changing Face of Lease Accounting Smythe

    How might IFRS 16 impact the mining and real estate industries? Most mining companies in BC are exploration stage. Leases over property for the exploration of nonregenerative resources are exempt from the provisions of IFRS 16.

  • In depth A look at current financial reporting issues

    This supplement focuses on how the standard will impact entities in the mining industry and highlights potential differences with current practice under IFRS and U.S. GAAP. The examples and related discussions are intended to provide areas of focus to assist

  • Energy, utilities & resources: Industries: PwC

    Energy, utilities & resources. We provide assurance, tax and advisory guidance to the oil and gas, power and utilities, mining and metals and chemicals companies. How can PwC help. We help our Energy, Utilities and Resources clients to deal with disruptive business challenges, to transform their businesses, grow their revenues and reduce costs. We help them to develop new strategies, improve

  • IFRS – Industry Issues CCH

    The impacts from the mining sector described above will also affect the oil and gas industry. Further, consider some areas that haven't yet been touched on, such as royalty interests. Classifiion of royalty interest under IFRS depends on the nature of the contract, and could result in treatment as property, an intangible asset, a financial instrument or even considered a joint venture

  • IFRS Mining Brochure BDO Canada

    mining companies. The impact of IFRS 11 on mining companies could be significant, as it could change the accounting for the joint arrangements these entities enter into: • For companies . who have existing . joint arrangements, they should review their legal agreements to determine in the context of IFRS 11 if any changes need to be made to legal agreements or accounting for the joint

  • The new revenue recognition standard mining & metals

    • Mining and metals entities may find it challenging to assess the impact of IFRS 15, in particular, when evaluating whether a contract is in scope, determining when control transfers to a

  • Impact of IFRS: Mining KPMG docucuarchive

    Impact of IFRS: Mining 1. Foreword. Accounting for mining activities . presents many difficulties. Significant upfront investment, uncertainty over

  • Mining challenges Hong Kong Institute of Certified

    IFRS 6 44 June 2010 Melvin Guen is an audit partner and head of mining at KPMG China. All companies disclosed an accounting policy on the impairment of nonfinancial

  • Mining sector Clearly IFRS Industry insights for IFRS 15

    Mining sector Clearly IFRS Industry insights for IFRS 15 Should revenue be adjusted for the effects of the time value of money? IFRS 15 introduces new and more extensive guidance on financing arrangements and the impact of the time value of money.

  • IFRS for mining assets.kpmg

    to interpret the impact on your business. IFRS 16 Leases is effective from January 1, 2019 and is an important change for all industries and mining is no different, particularly given the significant use of capital equipment. The standard is designed to provide greater clarity to preparers and users of financial statements and will result in most leases being recognized on balance sheet

  • IFRS 15 for sectors KPMG Global

    We look at possible impacts of IFRS 15, actions that may be needed, and how KPMG can help. IFRS 15 for transport Loyalty programmes and rebates are among

  • How will IFRS 15 Revenue from Contracts with Customers

    This article highlights what the key impliions of adopting IFRS 15 are expected to be on the mining industry. For the majority of revenue contracts and companies in this industry IFRS 15 is not expected to have a material impact on the numbers reported. Despite this, it is important to consider specific contracts and how the areas highlighted below may impact your company.