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  • Russian (CIS)
Particularities of Exploration Assets Accounting

Author: Aleksey Yu. Popov, Cand. Sc. (Ec.), Associate-Prof. of Accounting & Auditing Dept.

Abstract: The introduction of PBU 24/2011 (Russian accounting standard) “Accounting of natural resources development costs” created new accounting practices and grounded the necessity to update accounting policies of subsoil users. The article describes the features of exploration assets accounting on the basis of existing regulations, international standards and research experience. The variants of recording depreciation of exploration assets and their impairment are suggested.

Key words: accounting of natural resources development costs; exploration assets; exploration costs; asset cost; depreciation of exploration assets; impairment of exploration assets; derecognition of assets.