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myCPE

IFRS 6: Oil, Gas, Mining, And Other Extractive Industries 2 Credits

IFRS 6: Oil, Gas, Mining, And Other Extractive Industries 2 Credits

  • Rating

    4.3

  • Reviewed on

    February, 2025

  • Subject Area

    Accounting

Learning mode

On Demand
  • Access the course at your convenience
  • Take the assessment test
  • Get your certificate
  • Attend the live interactive session
  • Answer the polling questions
  • Get your certificate

Learning Objective

  • To review the financial reporting requirements as per IFRS Standard #6.
  • To analyze the various disclosure requirements.
  • To identify the valuation methods for assets and liabilities.
  • To identify the amount to be recognized for income and expense.

Course Overview

Extractive industries, involved in the exploration and extraction of mineral resources, including oil, gas, minerals, and similar non-regenerative resources, have unique accounting and reporting issues, particularly in regards to the evaluation of assets, revenues and expenditures.

IFRS Standard #6 requires that companies that have assets used for exploration and evaluation of mineral resources must issue IFRS-compliant financial statements.

Key topics covered in this Accounting CPE webinar

  • Know the deadlines for adoption requirements of IFRS standard #6.
  • Understand what will change and what will not change.
  • Learn the process for the evaluation of resource assets.
  • Appreciate how revenues and expenditures are measured.
  • Be familiar with impairment testing.
  • Be aware of what additional disclosures are required.
  • Review special financial statement presentation.

On Demand Credits for All Qualifications

License details Credits Status
Accounting for Certified Public Accountants (CPA-US) 2 CPE Approved
Accounting for CPA in Canada 2 CPD Eligible
Financial Accounting for Certified Internal Auditors (CIA) 2 CPE Eligible
Accounting & Auditing for Certified Management Accountants (CMA) 2 CPE Eligible
Financial Reporting for Chartered Global Management Accountants (CGMA) 2 CPE Eligible
Accounting for Chartered Financial Analyst (CFA) 2 PL Eligible
Accounting for Delaware Licensed Public Accountant (DE-LPA) 2 CPE Eligible
Accounting for Certified Government Financial Manager (CGFM) 2 CPE Eligible
Accounting for Certified Fraud Examiner (CFE) 2 CPE Eligible
Accounting for Internal Audit Practitioner (IAP) 2 CPE Eligible
Association of Chartered Certified Accountants (ACCA) 2 CPD Eligible
Chartered Accountant - ICAEW 2 CPD Eligible
Financial Reporting for Certified Financial Forensics (CFF) 2 CPD Eligible
Financial accounting for Certified Valuation Analyst (CVA) 2 CPE Eligible
Accounting for Qualification in Internal Audit Leadership (QIAL) 2 CPE Eligible
Accounting for Iowa Licensed Public Accountant (IA-LPA) 2 CPE Eligible
Accounting for Maine Licensed Public Accountant (ME-LPA) 2 CPE Eligible
Business and Asset Valuation for Chartered Business Valuator (CBV) 2 CPD Eligible
Chartered Accountants - Scotland 2 CPD Eligible
CPA - Ireland 2 CPD Eligible
Chartered Accountants - Ireland (CAI) 2 CPD Eligible
Accounting for CIPM 2 PL Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 2 CE Eligible
Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 2 CPE Eligible

Additional Information

Credits

2

Course Level

Basic

Instructional Method

QAS Self Study

Group Internet Based

Pre-requisites

None

Advance Preparation

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

Elevate Your Career with Michel Morley's CPE Courses at myCPE

Michel Morley

Founder, Mike Morley

  • 4.2
  • rating
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Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.

An entertaining and informative speaker and trainer, Mike is the author of:

“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.

“Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.

“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

out of 5

Excellent

Very Good

Average

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Terrible

JB

Jayne Brittle, CPA (US)

5

Oil and gas can be confusing but this was well organized and easy to follow.

DM

David Martin, EA

5

Good

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    Our support team is available via live chat, email, and phone from 9 AM to 5 PM ET. We're here to help with any questions or issues, ensuring you have a seamless experience.

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