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CPA Canada Viewpoints: Impact of IFRS 15, Revenue from Contracts with Customers (Mining)

  • IFRS - CPA Canada Image

Jun 10, 2019

On June 10, 2019, CPA Canada is­sued a Viewpoints publication entitled “Impact of IFRS 15, Revenue from Contracts with Customers (Mining). Developed jointly by Chartered Professional Accountants of Canada (CPA Canada) and the Prospectors and Developers Association of Canada (PDAC), this paper addresses some of the practical challenges in applying IFRS 15 in the mining industry.

Items covered include:

  • Understanding the arrangement and identifying customer(s): How should a mining entity evaluate who its customer is?
  • Shipping and refining obligations: How should obligations associated with shipping a commodity to a customer, or providing refining services, be treated?
  • Transfer of control over commodities: How does a mining entity evaluate transfer of control for a commodity and the resulting revenue recognition?
  • Provisional pricing: How should a mining entity address the unique pricing issues associated with provisionally priced contracts?

Read the publication on the CPA Canada web­site.

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