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Financial reporting in the mining industry

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Added on  2020-01-23

Financial reporting in the mining industry

   Added on 2020-01-23

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IMPAIRMENT IN THE MININGINDUSTRY
Financial reporting in the mining industry_1
EXECUTIVE SUMMARYIn the report discussion is carried out on the ASIC and its financial reporting surveillanceprogram. It is identified that mentioned authority is actively playing an important role inensuring that financial reporting is done in better way in the Australia. Analysis of factsrevealed that on moderate scale impairment of assets is done in proper manner in the mentionednation and there is need to improve the situation to great extent. There are certain areas likeprojection and determination of discount rate where Directors needs to pay due attention. Bydeveloping broad understanding about same Directors can ensure that assets are valued at fairprice by the firm.
Financial reporting in the mining industry_2
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................4Role of ASIC in relation to financial reporting surveillance program and ASIC findings fromreview of reports..........................................................................................................................4(b) Key issues and complexity of impairment of mining assets..................................................5© Assets impaired and value to written down.............................................................................6(d) Five issued that need to be consider.......................................................................................6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
Financial reporting in the mining industry_3

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