IFRS Implementation for Mining
Solutions to Specific Challenges Facing the Mining Industry during the Transition to New Accounting Standards
Conference: November 25 and 26, 2008
Optional Workshops: November 27, 2008
Vancouver, British Columbia
Optional Workshop Program Agendas
Thursday, November 27, 2008
9:00 - 12:00
Workshop One
IFRS Transition
Peter Greenwood, Advisory Services Partner, KPMG LLP
This workshop will be an interactive discussion on how to operationalize the key points identified in the previous session related to ensuring that your implementation to IFRS succeeds. Discussions will revolve around the key aspects of effectively managing this process.
- Accounting and reporting
- Business issues
- Systems and processes
- People
- Project management
1:00 - 4:00
Workshop Two
In-Depth Examination of IFRS Issues Specific to the Mining Industry
Craig McMillan, Senior Manager, Mining Group, PricewaterhouseCoopers LLP
Doug Warden, Manager, Mining Group, PricewaterhouseCoopers LLP
Mark Patterson, Senior Manager, Mining Group, PricewaterhouseCoopers LLP
Steven Spence, Senior Manager, Mining Group, PricewaterhouseCoopers LLP
The adoption of IFRS will have a significant impact on the preparation of financial statements for companies in all industries,
but will create particular challenges for the mining sector. Often, IFRS provides little guidance for a number of mining-specific
issues. This in-depth and interactive workshop will help provide guidance to mining companies implementing IFRS, as our facilitators
share their experiences working with leading global mining companies.
- Specific application of IAS 16 (PP&E), IAS 36 (impairment) and IAS 37 (provisions) to the mining industry
- Property, plant, and equipment (IAS 16): elements of costs, components, and depreciation
- Impairment of assets (IAS 36): concepts of cash generating unit, recoverable amount, and applying the trigger test; other important standards will also be discussed
- Discussion of IFRS 6 and the IASB current projects relating to exploration and evaluation (E&E)
- Typical IFRS 1 exemptions used by mining companies
- Case studies of the impact on financial reporting of IFRS for global mining companies
You will leave this workshop having gained the expertise and advice necessary for your
organization to successfully overcome the challenges ahead.
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