AASB 6 - Exploration for and Evaluation of Mineral Resources - December 2004
Specifying the level at which exploratioSpecifying the level at which exploration and evaluation assets are assessed for impairment
Start here
Get a plain-English read of Specifying the level at which exploratio
Turn the raw legal text into a practical explanation grounded in AASB 6 - Exploration for and Evaluation of Mineral Resources - December 2004.
Specifying the level at which exploration and evaluation assets are assessed for impairment
21 An entity shall determine an accounting policy for allocating exploration and evaluation assets to cash-generating units or groups of cash-generating units for the purpose of assessing such assets for impairment. Each cash-generating unit or group of units to which an exploration and evaluation asset is allocated shall not be larger than an operating segment determined in accordance with AASB 8 Operating Segments.
22 The level identified by the entity for the purposes of testing exploration and evaluation assets for impairment may comprise one or more cash‑generating units.
Aus22.1 Notwithstanding paragraphs 21 and 22, the level identified by the entity for the purposes of testing exploration and evaluation assets for impairment shall be no larger than the area of interest to which the exploration and evaluation asset relates.