Accounting for Mining ON DEMAND
Available Until
Your Desk
1.0 Credits
Member Price $29.00
Non-Member Price $33.00
Overview
A mining operation requires a business to incur substantial up-front costs for exploration and development activities, and probably additional costs as part of the mine’s eventual closure and site rehabilitation. In Accounting for Mining, we describe how to account for the costs incurred at each phase of a mine’s development, with particular attention to the more complex topics of asset retirement obligations and environmental obligations. Several additional topics related to asset impairment, business combinations, and financial disclosures are also covered.
Highlights
Stages of certainty regarding minerals found. Special topics. Depreciation and amortization. Asset retirement obligations. Business combinations. Financial disclosures.
Prerequisites
None.
Designed For
CPA, CEOs, CFPs, and other financial managers.
Objectives
Recognize the different types of mineral reserves. Describe the depreciation methods most applicable to mining assets. Specify how to account for an asset retirement obligation. Describe which costs related to environmental contamination should be charged to expense as incurred, and which should be deferred. Describe the various assets that may be recognized as part of the accounting for the acquisition of a mining business.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $33.00
Member Price $29.00