The IFRS Interpretations Committee, the interpretative body of the IASB, published proposed guidance on the accounting for stripping costs in the production phase of a surface mine.


The committee was asked to consider how to account for the process of removing waste from a surface mine in order to gain access to mineral ore deposits given the divergence in practice that exists.


The committee has proposed that costs associated with a “stripping campaign” should be accounted for as an additional component of an existing asset, and that this component should be written down over the reserves that directly benefit from the campaign.


The proposal, DI/2010/1, Stripping Costs in the Production Phase of a Surface Mine, is open for comment until Nov. 30 and can be accessed under the “Comment on a Proposal” section of


  The Professional Accountants in Business (PAIB) Committee of the International Federation of Accountants (IFAC) released a consultation paper, Competent and Versatile: How Professional Accountants in Business Drive Sustainable Organizational Success, that highlights how employer expectations of professional accountants in business and industry are expected to change in light of global trends and evolving organizational needs.


The paper analyzes these expectations in relation to eight drivers of sustainable organizational success—what companies need to do to achieve and sustain success in the changing global economic landscape. The drivers were defined based on an analysis of three long-term trends influencing organizations: globalization, complexity and technology. The drivers provide the framework for key activities that professional accountants will be expected to perform. These activities are highlighted under the following four roles that form the cornerstones of the services provided by professional accountants: creators, enablers, preservers and reporters of sustainable value. Previously defined in the proposed PAIB Strategy and Work Plan for 2010–12, these roles have received wide support so far.


To access the document or submit a comment, visit Comments are due Nov. 30.


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