CPA Canada Issues Publication on Effect of IFRS 15 on the Mining Industry
14 June 2019
CPA Canada has issued a non-authoritative publication on the impact of IFRS 15 on mining entities. This covers multiple issues in the mining industry, including:
- How should mining entities evaluate who their ‘customer’ is in the context of IFRS 15?
- How should obligations associated with shipping a commodity to a customer, or providing refining services, be treated?
- How does a mining entity evaluate transfer of control for a commodity and the resulting revenue recognition?
- How should a mining entity address the unique pricing issues associated with provisionally priced contracts?
The publication can be viewed here.