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1、IFRS 6 IASCF725International Financial Reporting Standard 6Exploration for and Evaluation of Mineral ResourcesThis version includes amendments resulting from IFRSs issued up to 31 December 2008.IFRS 6 Exploration for and Evaluation of Mineral Resources was issued by the InternationalAccounting Stand
2、ards Board in December 2004.IFRS 6 and its accompanying documents have been amended by the following IFRSs:Amendments to IFRS 1 and IFRS 6 (issued June 2005)IFRS 8 Operating Segments (issued November 2006)*IAS 1 Presentation of Financial Statements (as revised in September 2007)*IFRS 1 First-time Ad
3、option of International Financial Reporting Standards (as revised in November 2008).*effective date 1 January 2009effective date 1 July 2009.IFRS 6726 IASCFCONTENTSparagraphsINTRODUCTIONIN1IN5INTERNATIONAL FINANCIAL REPORTING STANDARD 6EXPLORATION FOR AND EVALUATION OF MINERAL RESOURCESOBJECTIVE12SC
4、OPE35RECOGNITION OF EXPLORATION AND EVALUATION ASSETS67Temporary exemption from IAS 8 paragraphs 11 and 1267MEASUREMENT OF EXPLORATION AND EVALUATION ASSETS814Measurement at recognition8Elements of cost of exploration and evaluation assets911Measurement after recognition12Changes in accounting polic
5、ies1314PRESENTATION1517Classification of exploration and evaluation assets1516Reclassification of exploration and evaluation assets17IMPAIRMENT1822Recognition and measurement1820Specifying the level at which exploration and evaluation assets are assessed for impairment2122DISCLOSURE2325EFFECTIVE DAT
6、E26TRANSITIONAL PROVISIONS27APPENDICESADefined termsBAmendments to other IFRSsAPPROVAL BY THE BOARD OF IFRS 6 ISSUED IN DECEMBER 2004APPROVAL BY THE BOARD OF AMENDMENTS TO IFRS 1 AND IFRS 6 ISSUED IN JUNE 2005BASIS FOR CONCLUSIONSDISSENTING OPINIONSIFRS 6 IASCF727International Financial Reporting St
7、andard 6 Exploration for and Evaluation of MineralResources (IFRS 6) is set out in paragraphs 127 and Appendices A and B. All theparagraphs have equal authority. Paragraphs in bold type state the main principles.Terms defined in Appendix A are in italics the first time they appear in the Standard.De
8、finitions of other terms are given in the Glossary for International FinancialReporting Standards. IFRS 6 should be read in the context of its objective and the Basisfor Conclusions, the Preface to International Financial Reporting Standards and the Frameworkfor the Preparation and Presentation of F
9、inancial Statements. IAS 8 Accounting Policies, Changes inAccounting Estimates and Errors provides a basis for selecting and applying accountingpolicies in the absence of explicit guidance.IFRS 6728 IASCFIntroductionReasons for issuing the IFRS IN1The International Accounting Standards Board decided
10、 to develop anInternational Financial Reporting Standard (IFRS) on exploration for andevaluation of mineral resources because: (a)until now there has been no IFRS that specifically addresses the accountingfor those activities and they are excluded from the scope of IAS 38Intangible Assets. In additi
11、on, mineral rights and mineral resources such asoil, natural gas and similar non-regenerative resources are excluded fromthe scope of IAS 16 Property, Plant and Equipment. Consequently, an entity wasrequired to determine its accounting policy for the exploration for andevaluation of mineral resource
12、s in accordance with paragraphs 1012 ofIAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. (b)there are different views on how exploration and evaluation expendituresshould be accounted for in accordance with IFRSs. (c)accounting practices for exploration and evaluation assets und
13、er therequirements of other standard-setting bodies are diverse and often differfrom practices in other sectors for expenditures that may be consideredanalogous (eg accounting practices for research and development costs inaccordance with IAS 38).(d)exploration and evaluation expenditures are signif
14、icant to entities engagedin extractive activities.(e)an increasing number of entities incurring exploration and evaluationexpenditures present their financial statements in accordance with IFRSs,and many more are expected to do so from 2005.IN2The Boards predecessor organisation, the International A
15、ccounting StandardsCommittee, established a Steering Committee in 1998 to carry out initial work onaccounting and financial reporting by entities engaged in extractive activities.In November 2000 the Steering Committee published an Issues Paper ExtractiveIndustries. IN3In July 2001 the Board announc
16、ed that it would restart the project only whenagenda time permitted. Although the Board recognised the importance ofaccounting for extractive activities generally, it decided in September 2002 thatit was not feasible to complete the detailed analysis required for this project,obtain appropriate inpu
17、t from constituents and undertake the Boards normaldue process in time to implement changes before many entities adopted IFRSsin 2005.IN4The Boards objectives for this phase of its extractive activities project are: (a)to make limited improvements to accounting practices for exploration andevaluatio
18、n expenditures, without requiring major changes that might bereversed when the Board undertakes a comprehensive review of accountingIFRS 6 IASCF729practices used by entities engaged in the exploration for and evaluation ofmineral resources.(b)to specify the circumstances in which entities that recog
19、nise explorationand evaluation assets should test such assets for impairment in accordancewith IAS 36 Impairment of Assets. (c)to require entities engaged in the exploration for and evaluation of mineralresources to disclose information about exploration and evaluation assets,the level at which such
20、 assets are assessed for impairment and anyimpairment losses recognised.Main features of the IFRSIN5The IFRS: (a)permits an entity to develop an accounting policy for exploration andevaluation assets without specifically considering the requirements ofparagraphs 11 and 12 of IAS 8. Thus, an entity a
21、dopting IFRS 6 maycontinue to use the accounting policies applied immediately beforeadopting the IFRS. This includes continuing to use recognition andmeasurement practices that are part of those accounting policies.(b)requires entities recognising exploration and evaluation assets to performan impai
22、rment test on those assets when facts and circumstances suggestthat the carrying amount of the assets may exceed their recoverableamount.(c)varies the recognition of impairment from that in IAS 36 but measures theimpairment in accordance with that Standard once the impairment isidentified.IFRS 6730
23、IASCFInternational Financial Reporting Standard 6Exploration for and Evaluation of Mineral ResourcesObjective1The objective of this IFRS is to specify the financial reporting for the exploration forand evaluation of mineral resources. 2In particular, the IFRS requires: (a)limited improvements to exi
24、sting accounting practices for exploration andevaluation expenditures. (b)entities that recognise exploration and evaluation assets to assess such assetsfor impairment in accordance with this IFRS and measure any impairmentin accordance with IAS 36 Impairment of Assets. (c)disclosures that identify
25、and explain the amounts in the entitys financialstatements arising from the exploration for and evaluation of mineralresources and help users of those financial statements understand theamount, timing and certainty of future cash flows from any explorationand evaluation assets recognised.Scope3An en
26、tity shall apply the IFRS to exploration and evaluation expenditures that itincurs.4The IFRS does not address other aspects of accounting by entities engaged in theexploration for and evaluation of mineral resources. 5An entity shall not apply the IFRS to expenditures incurred: (a)before the explora
27、tion for and evaluation of mineral resources, such asexpenditures incurred before the entity has obtained the legal rights toexplore a specific area.(b)after the technical feasibility and commercial viability of extracting amineral resource are demonstrable. Recognition of exploration and evaluation
28、 assetsTemporary exemption from IAS 8 paragraphs 11 and 12 6When developing its accounting policies, an entity recognising exploration andevaluation assets shall apply paragraph 10 of IAS 8 Accounting Policies, Changes inAccounting Estimates and Errors. IFRS 6 IASCF7317Paragraphs 11 and 12 of IAS 8
29、specify sources of authoritative requirements andguidance that management is required to consider in developing an accountingpolicy for an item if no IFRS applies specifically to that item. Subject toparagraphs 9 and 10 below, this IFRS exempts an entity from applying thoseparagraphs to its accounti
30、ng policies for the recognition and measurement ofexploration and evaluation assets. Measurement of exploration and evaluation assetsMeasurement at recognition8Exploration and evaluation assets shall be measured at cost.Elements of cost of exploration and evaluation assets9An entity shall determine
31、an accounting policy specifying which expenditures arerecognised as exploration and evaluation assets and apply the policy consistently.In making this determination, an entity considers the degree to which theexpenditure can be associated with finding specific mineral resources.The following are exa
32、mples of expenditures that might be included in the initialmeasurement of exploration and evaluation assets (the list is not exhaustive): (a)acquisition of rights to explore;(b)topographical, geological, geochemical and geophysical studies;(c)exploratory drilling;(d)trenching;(e)sampling; and(f)acti
33、vities in relation to evaluating the technical feasibility and commercialviability of extracting a mineral resource.10Expenditures related to the development of mineral resources shall not berecognised as exploration and evaluation assets. The Framework and IAS 38Intangible Assets provide guidance o
34、n the recognition of assets arising fromdevelopment. 11In accordance with IAS 37 Provisions, Contingent Liabilities and Contingent Assets anentity recognises any obligations for removal and restoration that are incurredduring a particular period as a consequence of having undertaken the explorationf
35、or and evaluation of mineral resources. Measurement after recognition12After recognition, an entity shall apply either the cost model or the revaluationmodel to the exploration and evaluation assets. If the revaluation model is applied(either the model in IAS 16 Property, Plant and Equipment or the
36、model in IAS 38)it shall be consistent with the classification of the assets (see paragraph 15). IFRS 6732 IASCFChanges in accounting policies 13An entity may change its accounting policies for exploration and evaluationexpenditures if the change makes the financial statements more relevant to theec
37、onomic decision-making needs of users and no less reliable, or more reliableand no less relevant to those needs. An entity shall judge relevance and reliabilityusing the criteria in IAS 8.14To justify changing its accounting policies for exploration and evaluationexpenditures, an entity shall demons
38、trate that the change brings its financialstatements closer to meeting the criteria in IAS 8, but the change need notachieve full compliance with those criteria.PresentationClassification of exploration and evaluation assets15An entity shall classify exploration and evaluation assets as tangible or
39、intangibleaccording to the nature of the assets acquired and apply the classificationconsistently.16Some exploration and evaluation assets are treated as intangible (eg drillingrights), whereas others are tangible (eg vehicles and drilling rigs). To the extentthat a tangible asset is consumed in dev
40、eloping an intangible asset, the amountreflecting that consumption is part of the cost of the intangible asset. However,using a tangible asset to develop an intangible asset does not change a tangibleasset into an intangible asset.Reclassification of exploration and evaluation assets17An exploration
41、 and evaluation asset shall no longer be classified as such when thetechnical feasibility and commercial viability of extracting a mineral resource aredemonstrable. Exploration and evaluation assets shall be assessed forimpairment, and any impairment loss recognised, before reclassification.Impairme
42、ntRecognition and measurement18Exploration and evaluation assets shall be assessed for impairment when factsand circumstances suggest that the carrying amount of an exploration andevaluation asset may exceed its recoverable amount. When facts andcircumstances suggest that the carrying amount exceeds
43、 the recoverable amount,an entity shall measure, present and disclose any resulting impairment loss inaccordance with IAS 36, except as provided by paragraph 21 below. IFRS 6 IASCF73319For the purposes of exploration and evaluation assets only, paragraph 20 of thisIFRS shall be applied rather than p
44、aragraphs 817 of IAS 36 when identifying anexploration and evaluation asset that may be impaired. Paragraph 20 uses theterm assets but applies equally to separate exploration and evaluation assets ora cash-generating unit. 20One or more of the following facts and circumstances indicate that an entit
45、yshould test exploration and evaluation assets for impairment (the list is notexhaustive): (a)the period for which the entity has the right to explore in the specific areahas expired during the period or will expire in the near future, and is notexpected to be renewed.(b)substantive expenditure on f
46、urther exploration for and evaluation ofmineral resources in the specific area is neither budgeted nor planned.(c)exploration for and evaluation of mineral resources in the specific areahave not led to the discovery of commercially viable quantities of mineralresources and the entity has decided to
47、discontinue such activities in thespecific area.(d)sufficient data exist to indicate that, although a development in thespecific area is likely to proceed, the carrying amount of the explorationand evaluation asset is unlikely to be recovered in full from successfuldevelopment or by sale.In any such
48、 case, or similar cases, the entity shall perform an impairment test inaccordance with IAS 36. Any impairment loss is recognised as an expense inaccordance with IAS 36.Specifying the level at which exploration and evaluation assets are assessed for impairment21An entity shall determine an accounting
49、 policy for allocating exploration andevaluation assets to cash-generating units or groups of cash-generating units forthe purpose of assessing such assets for impairment. Each cash-generating unitor group of units to which an exploration and evaluation asset is allocated shallnot be larger than an
50、operating segment determined in accordance with IFRS 8Operating Segments.22The level identified by the entity for the purposes of testing exploration andevaluation assets for impairment may comprise one or more cash-generatingunits.Disclosure23An entity shall disclose information that identifies and
51、 explains the amountsrecognised in its financial statements arising from the exploration for andevaluation of mineral resources.IFRS 6734 IASCF24To comply with paragraph 23, an entity shall disclose: (a)its accounting policies for exploration and evaluation expendituresincluding the recognition of e
52、xploration and evaluation assets. (b)the amounts of assets, liabilities, income and expense and operating andinvesting cash flows arising from the exploration for and evaluation ofmineral resources.25An entity shall treat exploration and evaluation assets as a separate class of assetsand make the di
53、sclosures required by either IAS 16 or IAS 38 consistent with howthe assets are classified. Effective date26An entity shall apply this IFRS for annual periods beginning on or after 1 January2006. Earlier application is encouraged. If an entity applies the IFRS for a periodbeginning before 1 January
54、2006, it shall disclose that fact. Transitional provisions27If it is impracticable to apply a particular requirement of paragraph 18 tocomparative information that relates to annual periods beginning before1 January 2006, an entity shall disclose that fact. IAS 8 explains the termimpracticable.IFRS
55、6 IASCF735Appendix ADefined termsThis appendix is an integral part of the IFRS.exploration and evaluation assetsExploration and evaluation expenditures recognised as assetsin accordance with the entitys accounting policy.exploration and evaluation expendituresExpenditures incurred by an entity in co
56、nnection with theexploration for and evaluation of mineral resources before thetechnical feasibility and commercial viability of extracting amineral resource are demonstrable.exploration for and evaluation of mineral resourcesThe search for mineral resources, including minerals, oil,natural gas and
57、similar non-regenerative resources after theentity has obtained legal rights to explore in a specific area, aswell as the determination of the technical feasibility andcommercial viability of extracting the mineral resource.IFRS 6736 IASCFAppendix BAmendments to other IFRSsThe amendments in this app
58、endix shall be applied for annual periods beginning on or after1 January 2006. If an entity applies this IFRS for an earlier period, these amendments shall be appliedfor that earlier period. The amendments contained in this appendix when this IFRS was issued in 2004 have been incorporatedinto the relevant IFRSs published in this volume.* * * * *
