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

4.3 (3)

Michel Morley

Mike Morley

Tuesday, June 22, 2021 | 12:00 PM EDT

  • CPA/ABV
  • CPA (Canada)
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • IAP
  • QIAL

2 Credits

$20

Subject Area

Accounting

Webinar Qualifies For

2 CPE credit of Accounting for all CPAs

2 CPE credit for Certified Management Accountants (CMA)

2 CPE credit for Certified Internal Auditors (CIA)

2 CPD credit (Verifiable) for Canadian CPAs

2 CPE credit for Internal Audit Practitioner (IAP)

2 CPE credit for Qualification in Internal Audit Leadership (QIAL)

2 CPD credit (Verifiable) for CPA/ABV

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

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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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 covered in this online 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

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
  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Auditors
  • Bookkeepers & Accountants & Tax Preparers
  • Business Owner
  • CEO
  • Certified Valuation Analysts
  • CFO/Controller
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Director of Financial Reporting
  • Senior Accountant
  • Young CPA

Testimonial

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What an experience! The speaker was simply amazing. He explained in extra minute detail and solved all my doubts during the webinar. I will find more webinars to attend on MyCPE. There is so much to learn with quality instructors on myCPE.