ASC

ASC 930-10

Overall

930 Extractive Activities—Mining

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In brief

IntroductoryIndustry-specificInventory and PP&EBusiness combinationsConsolidation

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.

Key points (5)
  • The Extractive Activities—Mining Topic comprises the Overall, Inventory, Property Plant and Equipment, Compensation—Retirement Benefits, Business Combinations, and Consolidation Subtopics (930-10-05-1).
  • The Overall Subtopic provides scope identification and definitions of industry terms for mining extractive activities (930-10-05-2).
  • The Subtopics provide only incremental industry-specific guidance; entities in scope must also comply with applicable guidance outside this Topic (930-10-15-1).
  • The Topic applies to all mining entities except those specifically excepted (930-10-15-2).
  • Oil- and gas-producing entities are excluded and instead follow Topic 932 (930-10-15-3(a)).

For students. This is a scope-and-roadmap subtopic: the common mistake is treating industry topics as self-contained, when in fact mining entities apply general GAAP plus these incremental rules, and oil and gas is a separate regime under Topic 932.

mining entityextractive activitiesincremental industry-specific guidancescope exceptionoil- and gas-producing entitiesindustry definitions

Machine-generated study aid for ASC 930-10. Check the source paragraphs below.

930-10-05Overview and Background

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930-10-05-1
The Extractive Activities—Mining Topic contains the following Subtopics:
  1. a
    Overall
  2. b
    Inventory
  3. c
    Property, Plant, and Equipment
  4. d
    Compensation—Retirement Benefits
  5. e
    Business Combinations
  6. f
    Consolidation.
930-10-05-2
This Subtopic provides overall guidance for extractive activities in the mining industry, including the identification of entities that fall within the scope of this Topic and definitions of industry terms.

930-10-15Scope and Scope Exceptions

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Overall Guidance

930-10-15-1
The Subtopics within the Extractive Activities—Mining Topic only provide incremental industry-specific guidance for the entities defined in this Scope Section, or as further defined in the Scope Section of the individual Subtopics. Entities within the scope of this Topic shall also comply with the applicable guidance not included in this Topic.

Entities

930-10-15-2
The Extractive Activities—Mining Topic provides guidance for all mining entities, with specific entity exceptions noted below.
930-10-15-3
The guidance in this Topic does not apply to the following entities:
  1. a
    Oil- and gas-producing entities. For guidance on these entities see Topic 932.

Related subtopics