IFRS Implementation for the Mining Industry
Examining the specific accounting and GAAP implications of the IFRS transition for the mining industry
Conference: August 26 and 27, 2009
Optional Workshops: August 28, 2009
Delta Vancouver Suites Hotel
VANCOUVER, BRITISH COLUMBIA
Conference Program Agenda - Day Two
Thursday, August 27, 2009
| 8:00 - 9:00 |
Continental Breakfast |
8:00 - 9:00 |
9:00 - 9:10
Opening Remarks from the Chair
Allan Russell, Senior Manager, Ernst & Young LLP
9:10 - 10:10
Preparing for the Future: IASB's Projects on Extractive Activity
Mark Walsh, Principal, Accounting Standards Board of Canada
- How is this project going to change accounting for mining companies--and when?
- What will be capitalized? What will be expensed?
- Will mineral assets be measured at cost or fair value?
- Disclosures
| 10:10 - 10:30 |
Networking Break |
10:10 - 10:30 |
10:30 - 11:30
Understanding Mining Taxation under IFRS
Michael R. Brawn, Tax Partner, KPMG LLP
- Analyzing International Accounting Standards (IAS) 12: will it become the new international standard for taxation?
- How will IAS 12 impact hedging and derivatives?: IFRS's potential impact on the taxation of flow-through shares
- Reconciling accounting to tax under IFRS: how will this change?
- Differences between tax standards under IFRS and Canadian GAAP: exploring the acquisition of assets and issues in future income tax
- Meeting your tax disclosure obligations under IFRS
11:30 - 12:30
IFRS 6, Exploration and Evaluation
Jason Kingshott, Assurance Services, Meyers Norris Penny LLP
- Expected impact of IFRS 6 to Canadian mining companies
- Impairment and testing of exploration and evaluation (E&E) costs
- Pre-exploration and post exploration costs
| 12:30 - 1:30 |
Luncheon Break |
12:30 - 1:30 |
1:30 - 2:30
Case Study
Exploring IFRS: An Early Adoption Experience
Andy Yu, Financial Reporting Manager, Hunter Dickinson Services Inc
- Early adoption process
- Common IFRS accounting policy differences encountered
- Tips and best practices
| 2:30 - 2:45 |
Networking Break |
2:30 - 2:45 |
2:45 - 3:45
Impairment of Assets: Effectively Working With the IFRS Standard
Glen Ives, Partner, Deloitte
Gregg Orr, Partner, Deloitte
- Understand the impairment testing model under IFRS
- Discover the differences between Canadian GAAP
- Realize key areas that will affect you the most
3:45 - 4:45
Business Combinations - IFRS 3
Glen Ives, Partner, Deloitte
Gregg Orr, Partner, Deloitte
- Discussion of key requirements under IFRS 3R and IAS 27R
- Identification of significant differences from Canadian GAAP
- Accounting for non-controlling interest and post-acquisition adjustments
- Key considerations leading up to transition
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