IFRS 6: Oil, Gas, Mining, and Other Extractive Industries

3.7 (3)

Michel Morley

Mike Morley

Thursday, February 25, 2021 | 09:30 AM EST

  • ABV
  • CPA Canada
  • CMA
  • CPA
  • CVA
  • CFE

2 CPE | 2 CPD

$20

Subject Area

Accounting

Webinar Qualifies For

2 CPE credit for Certified Fraud Examiners (CFEs)

2 CPE credit of Accounting for all CPAs

2 CPE credit for Certified Management Accountants (CMA)

2 CPD credit (Verifiable) for Canadian CPAs

2 CPD credit (Verifiable) for Certified Valuation Analyst (CVA)

2 CPD credit (Verifiable) for CPA/ABV

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Additional Dates

Mar 25, 2021 | 01:30 PM EST Register

Course Description

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. In the USA, the deadline for compliance being considered is January 1, 2021. Are you ready for these changes?

Key Topics: 

  • 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

If you are an accounting professional, you will want to become familiar with exactly what these new standards consist of, and what these changes mean for USA companies in the oil, gas and mining industries.

Learning Objectives

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

Who Should Attend?

  • Accountant
  • CPA - Small Firm
  • CPA - Mid Size Firm
  • Accounting Firm
  • CPA (Industry)
  • Young CPA
  • Accounting Practice Owners
  • Senior Accountant
  • Accounting Managers
  • Staff of Accounting Firm
  • Bookkeepers & Accountants & Tax Preparers

Testimonial

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