Transcription of Accounting for waste - EY
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October 2011. Accounting for waste removal costs IFRS Developments A summary of IFRIC Interpretation 20. for Mining & Metals What you need to know What's happened? The Interpretation only applies The IFRS Interpretations Committee (the Committee) has finally issued its Interpretation on to stripping costs incurred Accounting for waste removal costs - IFRIC Interpretation 20 Stripping Costs in the during the production phase of Production Phase of a Surface Mine (the Interpretation). This Interpretation is effective for a surface mine annual periods beginning on or after 1 January 2013. Entities will be required to apply its Such costs are to be capitalised requirements for production phase stripping costs incurred from the start of the earliest as part of an asset if certain comparative period presented which means many entities will need to start tracking the criteria are met and will be impacts of the Interpretation from at least 1 January 2012.
ey.com/mining October 2011 IFRS Developments for Mining & Metals Accounting for waste removal costs A summary of IFRIC Interpretation 20 What’s happened?
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