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  • Overview PSAK 64 Exploration and Evaluation Activities

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    This document provides an overview of the application of PSAK 64, which establishes accounting standards for exploration and evaluation activities in the mining of mineral resources. It discusses the accounting treatment of activities from pre-license exploration through to production. Expenses are recognized as incurred during early pre-license exploration, while later mineral interest acquisition costs are capitalized pending a determination of commercial viability. Exploration and evaluation costs are also capitalized as E&E assets and classified based on tangibility. Impairment testing is done if circumstances indicate impairment before reclassification to the development phase. Development costs are then capitalized, with production costs expensed as incurred.

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    This document provides an overview of the application of PSAK 64, which establishes accounting standards for exploration and evaluation activities in the mining of mineral resources. It discusses the accounting treatment of activities from pre-license exploration through to production. Expenses are recognized as incurred during early pre-license exploration, while later mineral interest acquisition costs are capitalized pending a determination of commercial viability. Exploration and evaluation costs are also capitalized as E&E assets and classified based on tangibility. Impairment testing is done if circumstances indicate impairment before reclassification to the development phase. Development costs are then capitalized, with production costs expensed as incurred.

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    © All Rights Reserved
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    21 views4 pages

    Overview PSAK 64 Exploration and Evaluation Activities

    Uploaded by

    palti_siahaan6960
    This document provides an overview of the application of PSAK 64, which establishes accounting standards for exploration and evaluation activities in the mining of mineral resources. It discusses the accounting treatment of activities from pre-license exploration through to production. Expenses are recognized as incurred during early pre-license exploration, while later mineral interest acquisition costs are capitalized pending a determination of commercial viability. Exploration and evaluation costs are also capitalized as E&E assets and classified based on tangibility. Impairment testing is done if circumstances indicate impairment before reclassification to the development phase. Development costs are then capitalized, with production costs expensed as incurred.

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    of 4

    OVERVIEW PENERAPAN PSAK 64 “AKTIVITAS

    EKSPLORASI & EVALUASI PADA PERTAMBANGAN


    SUMBER DAYA MINERAL”

    Palti Ferdrico TH Siahaan, SE, Ak, M.Ak, CPA


    palti.siahaan@gmail.com
    SKEMA BUSINESS UPSTREAM OPERATION

    Team IFRS Convergence Pertamina

    Oil Storage

    Oil Tanker

    Crude Oil Customer

    Natural
    Wellhead Oil & Gas Gas
    Seperator
    PSAK 16 Field Facility

    Inventory ?
    Customer
    point of sales
    PSAK 23
    OUTSIDE IFRS 6/PSAK 64 WITHIN IFRS 6/PSAK 64 OUTSIDE IFRS 6/PSAK 64

    PRE-LICENSE MINERAL EXPLORATION EVALUATION & DEVELOPMENT PRODUCTION


    EXPLORATION INTEREST APPRAISAL OIL
    ACQUISITION RESERVE

    A • reassessing • topographical • drilling additional • lifting


    C seismic data • geocchemical well • gathering
    T • land rights • G&G activities • constructing • production from
    I • G&G studies • exploratory platform individual wells
    V • satellite imagery drilling • constructing • removal of basic
    I • aerial • seismic equipment & sediment and
    T
    observation characterization facilities water
    I
    E • gravity-meter (pipeline, • separation of the
    S tests storage, & waste oil and gas
    disposal system

    I expensed as capitalized capitalised as E&E assets, and classified capitalised, expensed as


    F incurred pending on basis of tangibility. when assets are incurred
    R on the basis of determination of circumstances arise that indicate subject
    S the whether or not impairment before reclassification from to impairment
    Framework. commercial E&E to development has taken place, testing,
    impairment testing shall be done borrowing
    costs capitalised
    in some cases.

    3
    4

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