Viewpoints: Accounting for farm-out arrangements in the exploration and evaluation phase (Mining)

Learn how an organization accounts for the reduction in its interest in a project in the exploration and evaluation phase as a result of a farm-out arrangement. 

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If during the exploration and evaluation phase, your company has provided a working interest in its mine to a third party through a farm-out arrangement, you may be wondering: How do I account for the reduction in our interest in the project?

Prepared by Chartered Professional Accountants of Canada (CPA Canada) and the Prospectors and Developers Association of Canada, Viewpoints: Applying IFRS in the Mining Industry: Farm-out Arrangements in the Exploration and Evaluation Phase features information on:

  • potential accounting policies for such reductions
  • common journal entry considerations 


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