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mining asset or inventory

This topic has 1 reply, 2 voices, and was last updated 3 years ago by Stephen Widberg.

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September 3, 2022 at 9:49 am #665003
adarsh2001
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Sir, will the unextracted coal and minerals in a mine be treated as a mining asset or inventory? and if inventory, will the impairment on it be done according to IAS 36 or not?
September 3, 2022 at 1:35 pm #665032
Stephen Widberg
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IFRS 6 – not on list of examinable documents.
See this link if you are interested:
file:///C:/Users/44772/Downloads/ey-good-mining-2021.pdf
AND – VERY IMPORTANTLY – IMPAIRMENT IAS 36 IS NON-CURRENT ASSETS ONLY – NOW THAT IS IMPORTANT!!!!
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