55 paragraphs found in AASB 6
The objective of this Standard is to specify the financial reporting for the exploration for and evaluation of mineral resources. …
AusCF paragraphs included in this Standard apply only to: (a) not-for-profit entities; and (b) for-profit entities that are not applying the Conceptual Framework for Financial Reporting (as identified in AASB 1048 Interpretation of Standards ). Such …
In particular, the Standard requires: (a) limited improvements to existing accounting practices for exploration and evaluation expenditures . (b) entities that recognise exploration and evaluation assets to assess such assets for impairment in accordance …
An entity shall apply the Standard to exploration and evaluation expenditures that it incurs. …
The Standard does not address other aspects of accounting by entities engaged in the exploration for and evaluation of mineral resources. …
An entity shall not apply the Standard to expenditures incurred: (a) before the exploration for and evaluation of mineral resources, such as expenditures incurred before the entity has obtained the legal rights to explore a specific area. (b) after the …
When developing its accounting policies, an entity recognising exploration and evaluation assets shall apply paragraph 10 of AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors and paragraphs Aus7.1 and Aus7.2 …
Paragraphs 11 and 12 of AASB 108 specify sources of authoritative requirements and guidance that management is required to consider in developing an accounting policy for an item if no Standard applies specifically to that item. Subject to paragraphs 9 …
An entity’s accounting policy for the treatment of its exploration and evaluation expenditures shall be in accordance with the following requirements. For each area of interest , expenditures incurred in the exploration for and evaluation of mineral …
An exploration and evaluation asset shall only be recognised in relation to an area of interest if the following conditions are satisfied: (a) the rights to tenure of the area of interest are current; and (b) at least one of the following conditions is …