IFRS adoption in the mining industry: The case of S&B

Abstract

The dissertation attempts to explain the IFRS adoption by the S&B Industrial Minerals Group (a mining/industrial Group that operates in more than 50 countries). It aims not to describe the essence of the numerical data, since they are already stated in the half year 2005 interim financial statements supplementary disclosure notes. The dissertation endeavors to describe the new concept and the way to generate financial statements. It is an action research as the writer was a member of the Group’s IFRS implementation team and actually illustrates the following areas that were affected: Intangible assets Tangible assets Business combinations Deferred taxes Share based payments Provision for employees’ indemnities Provision for land rehabilitation Financial assets and liabilities Government grants Dividends Revenue recognition