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Commission Regulation
(EC) No 1910/2005 of 08 November 2005
amending
Regulation (EC) No 1725/2003
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Disclosure
23. An
entity shall disclose information that identifies and
explains the amounts recognised in its financial
statements arising from the exploration for and
evaluation of mineral resources.
24. To comply
with paragraph 23, an entity shall disclose:
(a) its
accounting policies for exploration and evaluation
expenditures including the recognition of
exploration and evaluation assets;
(b) the
amounts of assets, liabilities, income and expense
and operating and investing cash flows arising from
the exploration for and evaluation of mineral
resources.
25. An entity
shall treat exploration and evaluation assets as a
separate class of assets and make the disclosures
required by either IAS 16 or IAS 38 consistent with how
the assets are classified.
Effective Date
26. An
entity shall apply this IFRS for annual periods
beginning on or after 1 January 2006. Earlier
application is encouraged. If an entity applies the IFRS
for a period beginning before 1 January 2006, it shall
disclose that fact.
Transitional
Provisions
27. If it is
impracticable to apply a particular requirement of
paragraph 18 to comparative information that relates to
annual periods beginning before 1 January 2006, an
entity shall disclose that fact. IAS 8 explains the term
‘impracticable’.
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