Accounting for Mining (CPE Course)
CPE Credit: 1 hour
Related Courses
Course Type: Downloaded PDF materials with online test
Price (with PDF Textbook): $15
Course Description
A mining operation requires a business to incur substantial up-front costs for exploration and development activities, and probably additional costs as part of the mine’s eventual closure and site rehabilitation. In Accounting for Mining, we describe how to account for the costs incurred at each phase of a mine’s development, with particular attention to the more complex topics of asset retirement obligations and environmental obligations. Several additional topics related to asset impairment, business combinations, and financial disclosures are also covered.
Author: Steven Bragg
Course Number: AC1128
Learning Objectives
Recognize the different types of mineral reserves.
Describe the depreciation methods most applicable to mining assets.
Specify how to account for an asset retirement obligation.
Describe which costs related to environmental contamination should be charged to expense as incurred, and which should be deferred.
Describe the various assets that may be recognized as part of the accounting for the acquisition of a mining business.
Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Accounting
Prerequisites: None
Advance Preparation: None
Latest Review Date: August 2023
Program Registration Requirements: Click on "Purchase Course" near the top of this page to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
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AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
The NASBA sponsor identification number for Accountingtools, Inc. is 115881.
AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.