Boliden AB Monitor

Boliden AB Annual Report 2017
CR Monitor Issue: 
Company covered: 
Boliden AB
Period End: 
31 December, 2017
Report issued on 03 July 2018 covered the following practice issues:
Extended disclosure on new standards: IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers", and IFRS 16 "Leases".
Presentation of a reconciliation of movements in liabilities arising from financing activities on adoption of amendment to IAS 7 "Statement of cash flows".
Disclosure of the nature and estimated financial impact of post balance sheet events in a note to the accounts.

Fair value measurement information under IFRS

IFRS 13 “Fair value measurement” sets out a single consistent framework for measuring fair value within IFRS financial statements and outlines a standardised set of disclosures in respect of fair value measurements. IFRS 13 has been mandatory now for some years, with application being required for annual reporting periods beginning on or after 1 January 2013. This report sets out the results of how requirements of the standard have been put into practice, both in terms of measurement and disclosure, in the consolidated financial statements of 139 large public limited companies with year ends between 31 March 2016 and 1 April 2017. It is not an exhaustive study of all aspects of IFRS 13 application and its conclusions are limited to our findings in respect of the areas analysed within the financial statements reviewed.

Accounting for mine stripping costs: an emerging issue under IFRS

This report focuses on the accounting treatment of production stage waste removal or stripping activities in a surface mine following the implementation of IFRIC 20 “Stripping costs in the production phase of a surface mine”. It considers company disclosures in respect of the overall impacts of adoption. Areas covered are the conditions that have to be met for such costs to be capitalised and the processes undertaken by companies to determine the amounts to be capitalised and the depreciation method applied in relation to such capitalised costs.