Viewpoints: Impact of IFRS 15, revenue from contracts with customers (Mining)

Published on: May 31, 2019

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 such as:

  • 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?

Download

Related Topics

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.