IFRS for Extractive (Oil and Gas, Mining)
Duration: 2 Days
The programme answers questions such as:
1. What are the accounting and disclosure requirements of IFRS 6 Exploration for and Evaluation of Mineral Resources?
2. How does the diversity in accounting practices in the extractive industry affect financial reporting and what is the IASB’s response?
3. What are the critical compliance issues relating to hedge accounting?
4. Where can relevant accounting guidance for the extractive industry be found under both IFRS and US GAAP?
5. What the options available for valuing tangible assets?
6. How are the recognition and measurement rules for impairment applied?
Course Summary
This two-day course focuses on the specific accounting and reporting requirements for extractive industries (oil, gas, and mining).
Course Benefits
- Understand and apply the accounting and disclosure requirements of IFRS 6 Exploration for and Evaluation of Mineral Resources
- Appreciate the diversity in accounting practices in the extractive industry and the IASB’s project to review those practices
- Recognise the relevant accounting guidance for the extractive industry under US GAAP
- Understand the options available for valuing tangible assets
- Comprehend the complex rules on evaluating assets for impairment
Teaching Method
- Discussion of US GAAP relevant to the extractive industry
- Explanation and pertinent examples of hedge accounting
- Presentation and discussion of model financial statements and disclosures
- All participants receive copies of the presentation slides and other course materials
Course Summary
| Topics, presented through the use of practical examples and illustrative financial statements, include: | |
|
|
