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This is the carryin value at cost in 2007, however the subsidiary only has one asset which is a quarry. Problem is that its very difficult to put a value on a quarry and two valuers I spoke to who are not in a position to do a formal valuation. ... From an accounting perspective, am I covered by carrying the value of the subsidiary at cost and ...

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Accounting Quarry Stripping Costs stripping costs are usually capitalised as part of the depreciable cost of building, developing and constructing the mine. Those capitalised costs are depreciated or amortised on a systematic basis, usually by using the units of production method, once production begins.

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US GAAP Accounting treatment Capitalize Costs Development costs are usually carried forward until the mine is commissioned production begins because the expenditure is for future benefit from the mineral extraction. Capitalized development costs are then amortized using the units-of-PwC production UOP method as the resources are mined.

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If you are looking for a stable and easy to software that can help you manage and automate your crusher or Quarry plant and to provide all required reports at glance, then talk to us. Quipu Crusher and Quarry plant management software is designed for Indian businesses. It support all government norms including GST and Royalty calculations.

Determining when revenue is income Pit amp Quarry

Feb 10, 2017 With the effective dates for these guidelines approaching when all quarries and sand and gravel plants or businesses will be required to report revenue following hundreds of pages of new accounting guidance, seeking the all-so-necessary professional help in complying is an important first step for avoiding last minute panic.