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Recording ownership of mineral-related assets

 Issue Description

The SEEA-2003 suggested more than one option in recording decommissioning costs and recording of ownership of mineral-related assets. According to the 2008 SNA, decommissioning costs (terminal costs) lead to the creation of a fixed asset which has to be recorded as gross fixed capital formation in the asset accounts. Similarly, the asset account should in each period reflect a consumption of this fixed asset. The gross fixed capital formation is recorded at the end of the life time of the related asset, while the recording of the consumption of fixed capital takes place during the life time of the fixed asset. In order to estimate and record the consumption of fixed capital before the terminal costs actually takes place, it is necessary to estimate an expected terminal cost, which can be used as the basis for the calculation of consumption of fixed capital.

 Issue Papers and Corresponding Minutes of Meetings
Issue Papers: Minutes of Corresponding Meetings:
4/28/2009Recording the ownership of mineral-related assets 4/28/2009Report of the 12th meeting of the London Group on Environmental Accounting

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