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This summary of Emerging Issues Committee (EIC) decisions has been prepared for information purposes only. Decisions reported reflect only the current status of discussion on projects, which may change after further deliberations. Decisions to publish Abstracts, amendments thereto or Draft Abstracts are final only after a formal ballot process.
For more detailed information on EIC projects, please contact the EIC Secretary. |
Draft Abstract Approved Accounting by Mining Enterprises for Exploration Costs when an Impairment Test Is Required The Committee noted that in the last few months there has been a substantial decline in commodity prices and in share prices as well as the deterioration in the economy that amongst other effects has severely restricted the availability of financing. The Committee agreed that there is a significant need for additional guidance for mining exploration enterprises on when an impairment test is required. The Committee approved a Draft Abstract that provides additional guidance to that in EIC-126, “Accounting by Mining Enterprises for Exploration Costs.” It is expected that D78 will be posted on the CICA website for public comment by February 13, 2009. |