IFRS06 BV2009 - IFRS 6 International Financial Reporting...

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IFRS 6 International Financial Reporting Standard 6 Exploration for and Evaluation of Mineral Resources This version includes amendments resulting from IFRSs issued up to 31 December 2008. IFRS 6 Exploration for and Evaluation of Mineral Resources was issued by the International Accounting Standards Board in December 2004. IFRS 6 and its accompanying documents have been amended by the following IFRSs: Amendments to IFRS 1 and IFRS 6 (issued June 2005) IFRS 8 Operating Segments (issued November 2006) 1 IAS 1 Presentation of Financial Statements (as revised in September 2007) 2 IFRS 1 First-time Adoption of International Financial Reporting Standards (as revised in November 2008). 3 1 effective date 1 January 2009 2 effective date 1 January 2009 3 effective date 1 July 2009 © IASCF 1
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IFRS 6 C ONTENTS paragraphs INTRODUCTION IN1–IN5 INTERNATIONAL FINANCIAL REPORTING STANDARD 6 EXPLORATION FOR AND EVALUATION OF MINERAL RESOURCES OBJECTIVE 1–2 SCOPE 3–5 RECOGNITION OF EXPLORATION AND EVALUATION ASSETS 6–7 Temporary exemption from IAS 8 paragraphs 11 and 12 6–7 MEASUREMENT OF EXPLORATION AND EVALUATION ASSETS 8–14 Measurement at recognition 8 Elements of cost of exploration and evaluation assets 9–11 Measurement after recognition 12 Changes in accounting policies 13–14 PRESENTATION 15–17 Classification of exploration and evaluation assets 15–16 Reclassification of exploration and evaluation assets 17 IMPAIRMENT 18–22 Recognition and measurement 18–20 Specifying the level at which exploration and evaluation assets are assessed for impairment 21–22 DISCLOSURE 23–25 EFFECTIVE DATE 26 TRANSITIONAL PROVISIONS 27 APPENDICES A Defined terms B Amendments to other IFRSs APPROVAL BY THE BOARD OF IFRS 6 ISSUED IN DECEMBER 2004 APPROVAL BY THE BOARD OF AMENDMENTS TO IFRS 1 AND IFRS 6 ISSUED IN JUNE 2005 BASIS FOR CONCLUSIONS DISSENTING OPINIONS 2 © IASCF
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International Financial Reporting Standard 6 Exploration for and Evaluation of Mineral Resources (IFRS 6) is set out in paragraphs 1–27 and Appendices A and B. All the paragraphs have equal authority. Paragraphs in bold type state the main principles. Terms defined in Appendix A are in italics the first time they appear in the Standard. Definitions of other terms are given in the Glossary for International Financial Reporting Standards. IFRS 6 should be read in the context of its objective and the Basis for Conclusions, the Preface to International Financial Reporting Standards and the Framework for the Preparation and Presentation of Financial Statements . IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies in the absence of explicit guidance. © IASCF
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This note was uploaded on 02/22/2012 for the course ACCOUNTING 402 taught by Professor Sanaabadry during the Spring '12 term at DISD.

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IFRS06 BV2009 - IFRS 6 International Financial Reporting...

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