(a)

limited improvements to existing accounting practices for exploration and evaluation expenditures.

(b)

entities that recognise exploration and evaluation assets to assess such assets for impairment in accordance with this IFRS and measure any impairment in accordance with IAS 36 Impairment of Assets.

(c)

disclosures that identify and explain the amounts in the entity’s financial statements arising from the exploration for and evaluation of mineral resources and help users of those financial statements understand the amount, timing and certainty of future cash flows from any exploration and evaluation assets recognised.

(a)

before the exploration for and evaluation of mineral resources, such as expenditures incurred before the entity has obtained the legal rights to explore a specific area.

(b)

after the technical feasibility and commercial viability of extracting a mineral resource are demonstrable.

(a)

acquisition of rights to explore;

(b)

topographical, geological, geochemical and geophysical studies;

(c)

exploratory drilling;

(d)

trenching;

(e)

sampling; and

(f)

activities in relation to evaluating the technical feasibility and commercial viability of extracting a mineral resource.

(a)

the period for which the entity has the right to explore in the specific area has expired during the period or will expire in the near future, and is not expected to be renewed;

(b)

substantive expenditure on further exploration for and evaluation of mineral resources in the specific area is neither budgeted nor planned;

(c)

exploration for and evaluation of mineral resources in the specific area have not led to the discovery of commercially viable quantities of mineral resources and the entity has decided to discontinue such activities in the specific area;

(d)

sufficient data exist to indicate that, although a development in the specific area is likely to proceed, the carrying amount of the exploration and evaluation asset is unlikely to be recovered in full from successful development or by sale.

(a)

its accounting policies for exploration and evaluation expenditures including the recognition of exploration and evaluation assets;

(b)

the amounts of assets, liabilities, income and expense and operating and investing cash flows arising from the exploration for and evaluation of mineral resources.

(i)

current service cost,

(ii)

interest cost,

(iii)

contributions by plan participants,

(iv)

actuarial gains and losses,

(v)

foreign currency exchange rate changes on plans measured in a currency different from the entity’s presentation currency,

(vi)

benefits paid,

(vii)

past service cost,

(viii)

business combinations,

(ix)

curtailments and

(x)

settlements.

(i)

expected return on plan assets,

(ii)

actuarial gains and losses,

(iii)

foreign currency exchange rate changes on plans measured in a currency different from the entity’s presentation currency,

(iv)

contributions by the employer,

(v)

contributions by plan participants,

(vi)

benefits paid,

(vii)

business combinations and

(viii)

settlements.

(i)

the net actuarial gains or losses not recognised in the balance sheet (see paragraph 92),

(ii)

the past service cost not recognised in the balance sheet (see paragraph 96),

(iii)

any amount not recognised as an asset, because of the limit in paragraph 58(b),

(iv)

the fair value at the balance sheet date of any reimbursement right recognised as an asset in accordance with paragraph 104A (with a brief description of the link between the reimbursement right and the related obligation), and

(v)

the other amounts recognised in the balance sheet.

(i)

current service cost,

(ii)

interest cost,

(iii)

expected return on plan assets,

(iv)

expected return on any reimbursement right recognised as an asset in accordance with paragraph 104A,

(v)

actuarial gains and losses,

(vi)

past service cost,

(vii)

the effect of any curtailment or settlement, and

(viii)

the effect of the limit in paragraph 58(b).

(i)

actuarial gains and losses, and

(ii)

the effect of the limit in paragraph 58(b).

(i)

each category of the entity’s own financial instruments, and

(ii)

any property occupied by, or other assets used by, the entity.

(i)

the discount rates,

(ii)

the expected rates of return on any plan assets for the periods presented in the financial statements,

(iii)

the expected rates of return for the periods presented in the financial statements on any reimbursement right recognised as an asset in accordance with paragraph 104A,

(iv)

the expected rates of salary increases (and of changes in an index or other variable specified in the formal or constructive terms of a plan as the basis for future benefit increases),

(v)

medical cost trend rates, and

(vi)

any other material actuarial assumptions used.

(i)

the aggregate of the current service cost and interest cost components of net periodic post-employment medical costs, and

(ii)

the accumulated post-employment benefit obligation for medical costs.

(i)

the present value of the defined benefit obligation, the fair value of the plan assets and the surplus or deficit in the plan, and

(ii)

the experience adjustments arising on:

—

outsourcing arrangements (e.g. the outsourcing of the data processing functions of an entity).

—

arrangements in the telecommunications industry, in which suppliers of network capacity enter into contracts to provide purchasers with rights to capacity.

—

take-or-pay and similar contracts, in which purchasers must make specified payments regardless of whether they take delivery of the contracted products or services (e.g. a take-or-pay contract to acquire substantially all of the output of a supplier’s power generator).

(a)

how to determine whether an arrangement is, or contains, a lease as defined in IAS 17;

(b)

when the assessment or a reassessment of whether an arrangement is, or contains, a lease should be made; and

(c)

if an arrangement is, or contains, a lease, how the payments for the lease should be separated from payments for any other elements in the arrangement.

(a)

fulfilment of the arrangement is dependent on the use of a specific asset or assets (the asset); and

(b)

the arrangement conveys a right to use the asset.

(a)

The purchaser has the ability or right to operate the asset or direct others to operate the asset in a manner it determines while obtaining or controlling more than an insignificant amount of the output or other utility of the asset.

(b)

The purchaser has the ability or right to control physical access to the underlying asset while obtaining or controlling more than an insignificant amount of the output or other utility of the asset.

(c)

Facts and circumstances indicate that it is remote that one or more parties other than the purchaser will take more than an insignificant amount of the output or other utility that will be produced or generated by the asset during the term of the arrangement, and the price that the purchaser will pay for the output is neither contractually fixed per unit of output nor equal to the current market price per unit of output as of the time of delivery of the output.

(a)

there is a change in the contractual terms, unless the change only renews or extends the arrangement;

(b)

a renewal option is exercised or an extension is agreed to by the parties to the arrangement, unless the term of the renewal or extension had initially been included in the lease term in accordance with paragraph 4 of IAS 17. A renewal or extension of the arrangement that does not include modification of any of the terms in the original arrangement before the end of the term of the original arrangement shall be evaluated under paragraphs 6-9 only with respect to the renewal or extension period;

(c)

there is a change in the determination of whether fulfilment is dependent on a specified asset;

(d)

there is a substantial change to the asset, for example a substantial physical change to property, plant or equipment.

(a)

in the case of (a), (c) or (d) in paragraph 10, when the change in circumstances giving rise to the reassessment occurs;

(b)

in the case of (b) in paragraph 10, the inception of the renewal or extension period.

(a)

in the case of a finance lease, recognise an asset and a liability at an amount equal to the fair value of the underlying asset that was identified in paragraphs 7 and 8 as the subject of the lease. Subsequently the liability shall be reduced as payments are made and an imputed finance charge on the liability recognised using the purchaser’s incremental borrowing rate of interest (*1);

(b)

in the case of an operating lease, treat all payments under the arrangement as lease payments for the purposes of complying with the disclosure requirements of IAS 17, but:

(a)

funds that are established by a single contributor to fund its own decommissioning obligations, whether for a particular site, or for a number of geographically dispersed sites;

(b)

funds that are established with multiple contributors to fund their individual or joint decommissioning obligations, when contributors are entitled to reimbursement for decommissioning expenses to the extent of their contributions plus any actual earnings on those contributions less their share of the costs of administering the fund. Contributors may have an obligation to make additional contributions, for example, in the event of the bankruptcy of another contributor;

(c)

funds that are established with multiple contributors to fund their individual or joint decommissioning obligations when the required level of contributions is based on the current activity of a contributor-and the benefit obtained by that contributor is based on its past activity. In such cases there is a potential mismatch in the amount of contributions made by a contributor (based on current activity) and the value realisable from the fund (based on past activity).

(a)

the fund is separately administered by independent trustees;

(b)

entities (contributors) make contributions to the fund, which are invested in a range of assets that may include both debt and equity investments, and are available to help pay the contributors’ decommissioning costs. The trustees determine how contributions are invested, within the constraints set by the fund’s governing documents and any applicable legislation or other regulations;

(c)

the contributors retain the obligation to pay decommissioning costs. However, contributors are able to obtain reimbursement of decommissioning costs from the fund up to the lower of the decommissioning costs incurred and the contributor’s share of assets of the fund;

(d)

the contributors may have restricted access or no access to any surplus of assets of the fund over those used to meet eligible decommissioning costs.

(a)

the assets are administered separately (either by being held in a separate legal entity or as segregated assets within another entity); and

(b)

a contributor’s right to access the assets is restricted.

(a)

how should a contributor account for its interest in a fund, and

(b)

when a contributor has an obligation to make additional contributions, for example, in the event of the bankruptcy of another contributor, how should that obligation be accounted for?

(a)

the amount of the decommissioning obligation recognised; and

(b)

the contributor’s share of the fair value of the net assets of the fund attributable to contributors.