Which of the following is NOT within the scope of the IASB extractive activities project?
A) The definition of reserves and resources.
B) Whether to expense or capitalise costs recognised after recognition of reserves and resources as assets.
C) Measurement of reserves and resources on initial recognition as an asset.
D) Disclosure requirements for reserves and resources.

Question

Quizplus · Accepted Answer

The IASB extractive activities project is focused on developing guidance on accounting for exploration, evaluation, development and production of mineral resources. The project includes scope for defining reserves and resources, measurement of reserves and resources on initial recognition, and disclosure requirements. However, whether to expense or capitalise costs recognised after recognition of reserves and resources as assets is beyond the scope of this project.

Which of the Following Is NOT Within the Scope of the IASB