ASC

ASC Topic 930

Extractive Activities—Mining

IntroductoryIndustry-specificInventory and PP&EBusiness combinations1 subtopics · 5 paragraphs

Source downloaded: .Record version 87cb5660c9be. Effective date must be checked in the source.

ASC 93X covers extractive activities, split between mining (Topic 930) and oil and gas (Topic 932). The digest here addresses ASC 930-10, the Overall subtopic for Extractive Activities—Mining, which defines the Topic's scope and mining industry terminology and identifies its six subtopics: Overall, Inventory, Property Plant and Equipment, Compensation—Retirement Benefits, Business Combinations, and Consolidation (930-10-05-1). The key idea is that this guidance is only incremental industry-specific guidance—mining entities must also comply with all other applicable GAAP outside the Topic (930-10-15-1)—and it applies to all mining entities except oil- and gas-producing entities, which instead follow Topic 932 (930-10-15-2; 930-10-15-3(a)).

extractive activities—miningscope of topic 930incremental industry-specific guidancemining entityoil- and gas-producing entities scope exceptiondefinitions of mining industry termssubtopic structure

Subtopics

  1. 10Overall5 ¶

    ASC 930-10 is the Overall subtopic of the Extractive Activities—Mining Topic; it identifies which entities fall within the Topic's scope and supplies definitions of mining industry terms. The Topic contains six subtopics (Overall, Inventory, Property Plant and Equipment, Compensation—Retirement Benefits, Business Combinations, and Consolidation) and provides only incremental industry-specific guidance, so mining entities must also apply all other applicable GAAP. It applies to all mining entities except oil- and gas-producing entities, which follow Topic 932.

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