References

• Framework for the Preparation and Presentation of Financial Statements
• IAS 1 Presentation of Financial Statements
• IAS 2 Inventories
• IAS 16 Property, Plant and Equipment
• IAS 36 Impairment of Assets
• IAS 38 Intangible Assets

History

• IFRS Interpretations Committee Agenda. Click for Project Page
• IFRIC DI/2010/1 issued 26 August 2010. Click for Press Release (PDF 35k)
• Comment deadline 30 November 2010
• Near Final Draft of IFRIC 20 published 10 August 2011
• IFRIC 20 Stripping Costs in the Production Phase of a Surface Mine issued 19 October 2011

Deloitte Letter of Comment on this Draft Interpretation

• Stripping Costs in the Production Phase of a Surface Mine (PDF 90k)

• (a) Is the definition of an asset met?
• (b) When should the stripping campaign component be recognised?
• (c) How should the stripping campaign component be measured initially?
• (d) How should the stripping campaign component be measured subsequently?

The IFRS Interpretations Committee has reached the conclusion that costs associated with a 'stripping campaign' should be accounted for as an additional component of an existing asset, and that this component should be written down over the reserves that directly benefit from the campaign.

The draft intepretation is open for comment until 30 November 2010. It can be accessed via the IASB's website. Click for the IASB's Press Release (PDF 35k).

On 10 August 2010 a near final draft of IFRIC Interpretation 20 Stripping Costs in the Production Phase of a Surface Mine has been posted to the IASB's website. The near final draft (PDF 226k, link to IASB website) is available to eIFRS subscribers only.