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The International Accounting Standards Board (IASB) publishes an exposure draft, ED 6, Exploration for and Evaluation of Mineral Resources, which proposes guidance for extractive-industry entities required to comply with international financial reporting standards (IFRS) beginning in 2005 (www.iasb.org/uploaded_files/documents/8_38_ed6.pdf).

The International Accounting Standards Board (IASB) publishes an exposure draft, ED 6, Exploration for and Evaluation of Mineral Resources, which proposes guidance for extractive-industry entities required to comply with international financial reporting standards (IFRS) beginning in 2005 (www.iasb.org/uploaded_files/documents/8_38_ed6.pdf). Because there is no related guidance in place and the accounting practices of organizations doing business in this area vary widely, the ED focuses on improving only certain disclosures and represents the initial phase of the IASB's approach to dcveloping standards for extractive industries. Comments are due April 16.
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Title Annotation:International
Publication:Journal of Accountancy
Date:Apr 1, 2004
Words:96
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