# ASC Topic 930: Extractive Activities—Mining

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/930/)

Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.

Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure.

Source downloaded (UTC): 2026-09-10T02:12:20.867Z to 2026-09-10T02:12:28.386Z

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## Machine-generated topic summary

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)).

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## ASC 930-10: Extractive Activities—Mining — Overall

### Machine-generated study aids

```json
{
  "summary": "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": [
    "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))."
  ],
  "categories": [
    "Industry-specific",
    "Inventory and PP&E",
    "Business combinations",
    "Consolidation"
  ],
  "audience_level": "introductory",
  "student_note": "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.",
  "related_topics": [
    "932",
    "930-330",
    "930-360",
    "930-715",
    "930-805",
    "930-810"
  ],
  "key_concepts": [
    "mining entity",
    "extractive activities",
    "incremental industry-specific guidance",
    "scope exception",
    "oil- and gas-producing entities",
    "industry definitions"
  ]
}
```

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## ASC 930-10-05: 05 Overview and Background

[Read section](https://asc.understandingaccounting.org/asc/930/10/#05-overview-and-background)

SEC content: no

##### [930-10-05-1](https://asc.understandingaccounting.org/asc/930/10/#930-10-05-1)

Pending content: no

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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](https://asc.understandingaccounting.org/asc/930/10/#930-10-05-2)

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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.

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## ASC 930-10-15: 15 Scope and Scope Exceptions

[Read section](https://asc.understandingaccounting.org/asc/930/10/#15-scope-and-scope-exceptions)

SEC content: no

#### Overall Guidance

##### [930-10-15-1](https://asc.understandingaccounting.org/asc/930/10/#930-10-15-1)

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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](https://asc.understandingaccounting.org/asc/930/10/#930-10-15-2)

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The Extractive Activities—Mining Topic provides guidance for all [mining entities](https://asc.understandingaccounting.org/glossary/m/#mining-entities "Mining entities include entities involved in finding and removing wasting natural resources (other than oil- and gas-producing entities that are within the scope of Topic 932)."), with specific entity exceptions noted below.

##### [930-10-15-3](https://asc.understandingaccounting.org/asc/930/10/#930-10-15-3)

Pending content: no

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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.