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  • How will IFRS 15 Revenue from Contracts with Customers

    May 15, 20180183;32;This article highlights what the key implications of adopting IFRS 15 are expected to be on the mining industry. For the majority of revenue contracts and companies in this industry IFRS 15 is not expected to have a material impact on the numbers reported.

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  • How will IFRS 15 and IFRS 16 impact the mining industry

    These new standards impact every industry, and the mining and natural resources sector is no different. We are going to drill down into these standards to give you some insight into the key changes, and how this may impact your mining interests. IFRS 15 revenue from contracts with customers. Revenue underpins and impacts many crucial

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  • The new revenue recognition standard mining amp; metals

    Mining and metals entities may find it challenging to assess the impact of IFRS 15, in particular, when evaluating whether a contract is in scope, determining when control transfers to a customer, accounting for fixed and provisionally priced commodity sales contracts, and assessing the impact on take or pay and other similar long term

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  • IFRS MINING SECTOR slideshare.net

    Jun 08, 20180183;32;Financial reporting in the mining industry The mining industry is one of the worlds most global industries. Many countries now require companies to prepare their financial statements in accordance with International Financial Reporting Standards (IFRS). Regulatory bodies in many other countries are converging national standards with IFRS.

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  • IFRS for mining assets.kpmg

    IFRS 16 Leases is effective from January 1, 2019 and is an important change for all industries and mining is no different, particularly given the significant use of

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  • IFRS 16 Leases and the Mining Industry MOORE

    Mar 20, 20190183;32;A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration (IFRS 16.9) This means, leases of vehicles, mining equipment (such as drilling rigs), mine camps and even generators will be classified as leases under IFRS 16 .

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  • The Effect of IFRS on the Financial Ratios of Canadian

    International Financial Reporting Standards, or IFRS (Godfrey amp; Chalmers. 2007). This set of standards was designed to ensure unified reporting of financial information worldwide and, consequently, to meet the need for a global set of standards (Gornik Tomaszewski amp; Showerman. 2010). Changes under and Criticisms of IFRS

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  • Industry insights for IFRS 15 Deloitte US

    Our experts have also created nine Industry insights for IFRS 15 publications as part of Deloittes Clearly IFRS series. These publications highlight potential changes in timing of recognition, measurement (including allocation of revenue between goods and services provided) and disclosure.

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  • The sprint to the IFRS finish line MINING.COM

    However, these junior mining companies, which tend to have less in house financial reporting expertise, need to be careful not to get surprised by the sleeper IFRS issues, including

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  • Viewpoints Impact of IFRS 15, revenue from contracts with

    Viewpoints Impact of IFRS 15, revenue from contracts with customers (Mining) Understand some of the practical challenges in applying IFRS 15, Revenue from contracts with customers, that are

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  • In depth A look at current financial reporting issues PwC

    This supplement focuses on how the standard will impact entities in the mining industry and highlights potential differences with current practice under IFRS and U.S. GAAP. The examples and related discussions are intended to provide areas of focus to assist entities in evaluating the implications of the new standard. No. 2014 02 (supplement

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  • Gauging the Impact of Combining GAAP and IFRS

    Jun 27, 20190183;32;Such initiatives have consequences on the world of accounting diversity, and the standards convergence of GAAP along with the IFRS largely

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  • IFRS 15 And Impact On The Mining Industry BDO

    IFRS 15 And Impact On The Mining Industry. The pending implementation of IFRS 15 Revenue Contracts with Customers may have a significant impact on revenue recognition for the mining and oil and gas sector when compared to the requirements of the current standard IAS 18.

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  • The Impact of IFRS on Industry International Accounting

    The Impact of IFRS on Industry provides specific guidance on applying IFRS in a diverse range of sectors. Opening with an overview of IFRS, including a summary of all the standards, the book goes on to provide detailed coverage of the standards that can impact all industries, including IAS 40, IFRS 1, and IFRS 5.

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  • IFRS Mining Brochure BDO Canada

    mining companies. The impact of IFRS 11 on mining companies could be significant, as it could change the accounting for the joint arrangements these entities enter into For companies . who have existing . joint arrangements, they should review their legal agreements to determine in the context of IFRS

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  • IFRS 15 the new revenue recognition standard

    2 IFRS Developments for Mining amp; Metals IFRS 15 the new revenue recognition standard Our Applying IFRS, A closer look at the new revenue recognition standard (June 2014)1, provides an in depth discussion of IFRS 15. This publication summarises the key implications of the standard for mining

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  • Mining sector Clearly IFRS Deloitte

    Mining sector Clearly IFRS Industry insights for IFRS 15 New revenue Standard could impact profile of revenue and profit recognition Whats happened? The International Accounting Standards Board (IASB) has published a new Standard, IFRS 15 Revenue from Contracts with Customers (the new Standard).

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  • IFRS industry insights Mining sector IFRS 15, the new

    IFRS industry insights Mining sector IFRS 15, the new revenue Standard could impact profile of revenue and profit recognition Published on 08 Oct 2015 This publication highlights issues from the new revenue recognition standard that will be of interest to those in the mining sector.

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  • Digging into IFRS pwc

    In this edition of Digging into IFRS, we highlight some of the key considerations that should be made by mining companies when determining the accounting for joint arrangements. Who does it impact? IFRS 11 is effective for financial periods beginning on or after 1 January 2013. All mining

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  • IFRS Advisory Natural Resources BDO

    IFRS Advisory Natural Resources Application of IFRS 9 to the natural resources sector. The origins of IFRS 9 Financial Instruments stem from the global financial crisis and is a very significant standard for the banking sector.Whilst the impact on IFRS 9 is not as great on nonfinancial entities, those in the natural resources sector should not ignore its impacts.

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  • Impact Of Ifrs Mining hospitalitydeskholland.nl

    Impact Of Ifrs Mining royalrajasthanonwheels.co. Leases A summary of IFRS 16 and its effects. This document summarizes very well possible impacts for LESSEES et LESSORS Content IFRS 16 Leases Roadmap Definition of Lease Overview of IFRS 16 Leases Lessees will have a single accounting model for all leases, two exemptions ('lowvalue assets' and shortterm leases) Lessor accounting is

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  • IFRS for mining assets.kpmg

    IFRS for mining IFRS 16 Leases Practical application guidance 11 Lease definition A lease is a contract, or part of a contract, that conveys the right to use an asset (the underlying asset) for a period of time in exchange for consideration. If a contract contains a lease, then it will generally be on balance sheet for the lessee.

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  • Guidance for applying IFRS in the mining industry

    Analyzes specific IFRS application issues in the mining and metals industry. The Refining IFRS series aims to examine the complex and unique, issues faced by mining and metals companies applying IFRS. Mining Financial Reporting Survey (KPMG 2014) Publishes the results of a survey of financial reporting under IFRS by selected major mining

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  • IFRS 16 Leases Practical application for mining KPMG

    For example, identifying whether a mining services arrangement contains a lease will be an area of complexity for many in the industry, so to help you with your assessment we present a case study exploring the impact of IFRS 16 on a mining services arrangement.

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  • The Impact of IFRS on Industry International Accounting

    The Impact of IFRS on Industry provides specific guidance on applying IFRS in a diverse range of sectors. Opening with an overview of IFRS, including a summary of all the standards, the book goes on to provide detailed coverage of the standards that can impact all industries, including IAS 40, IFRS 1, and IFRS 5.

    Contact Us
  • The application of IFRS 15 to miners BDO

    However, it is wrong to assume that miners are not impacted by this new standard and mining companies need to consider potential impact areas. To analyse IFRS 15, it is necessary to consider whether the contract is within the scope of the standard and

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  • IFRS 15 and impact on the mining industry BDO

    The pending implementation of IFRS 15 Revenue Contracts with Customers may have a significant impact on revenue recognition for the mining and oil and gas sector when compared to the requirements of the current standard IAS 18.

    Contact Us
  • The Effect of IFRS on the Financial Ratios of Canadian

    International Financial Reporting Standards, or IFRS (Godfrey amp; Chalmers. 2007). This set of standards was designed to ensure unified reporting of financial information worldwide and, consequently, to meet the need for a global set of standards (Gornik Tomaszewski amp; Showerman. 2010). Changes under and Criticisms of IFRS

    Contact Us
  • Gauging the Impact of Combining GAAP and IFRS

    Jun 27, 20190183;32;Such initiatives have consequences on the world of accounting diversity, and the standards convergence of GAAP along with the IFRS largely

    Contact Us
  • IFRS 9 Will Impact Banks Provisions Moody's Analytics

    Replacing IAS 39 with IFRS 9 will significantly impact banks financial statements, the greatest impact being the calculation of impairments IAS 39 A provision is made only when there is a realized impairment. This results in too little, too late provisions and does not

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