ifrs 6: permits an entity to develop an accounting policy for exploration and evaluation assets without specifically considering the requirements of paragraphs 11–12 of IAS 8. Thus, an entity adopting IFRS 6 may continue to use the accounting …

In December 2004 the International Accounting Standards Board issued IFRS 6 Exploration for and Evaluation of Mineral Resources. Amendments to References to the Conceptual Framework in IFRS Standards (issued March 2018).

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The IFRIC was asked to clarify the effect of the limited scope of IFRS 6 on exploration and evaluation (E&E) activities.

IFRS 6 was issued as an interim standard, and was meant to be a short-term solution to the problem of accounting for the exploration and evaluation of mineral resource assets. However it has now been on issue since December 2004 and applies to accounting periods beginning on or after 1 January 2006.

IFRS 6 Exploration for and Evaluation of Mineral Resources The objective of this IFRS is to specify the financial reporting for the exploration for and evaluation of mineral resources. Exploration and evaluation expenditures are expenditures incurred by an entity in connection with the exploration for and evaluation of mineral resources before the

IFRS 6 Exploration for and Evaluation of Mineral Resources provides guidance on accounting for exploration and evaluation expenditures, including the recognition of exploration and evaluation assets. This page provides information on the standard and …