Newsletter on stripping costs in the production phase of a surface mine
07 Sep, 2010
Deloitte's IFRS Global Office has published an IFRS in Focus Newsletter — IFRS Interpretations Committee issues Draft Interpretation on Stripping Costs in the Production Phase of a Surface Mine.
This newsletter describes the recent IFRS Interpretations Committee draft Interpretation DI/2010/1 Stripping Costs in the Production Phase of a Surface Mine. The draft Interpretation was developed in response to a request for guidance on accounting for waste removal costs incurred in the production phase of a surface mine. The draft Interpretation addresses the following issues:
- whether the definition of an asset is met;
- when the stripping campaign component should be recognised; and
- how the stripping campaign component should be measured at initial recognition and subsequently.
Click for:
- IFRS in Focus Newsletter – IFRS Interpretations Committee issues Draft Interpretation on Stripping Costs in the Production Phase of a Surface Mine (PDF 74k)
- Past editions of IFRS in Focus
- Our IAS 16: Accounting for Stripping Costs in the Production Phase of a Mine project page