Research On The Problem Of Mineral Resources Assets Accounting

The mineral resources are the important material bases for the national economy and society development. Along with the industrialization development and population growth, the huge demand of humanity to the natural resources, large-scale mining and consumption have caused the resources bases weakened and exhausted. As a big country in resources of the world, our country has long been developing the mineral resources in free, paid more attention to mining and utility but less to protection and management, which causes the mineral resources massively to drain out. Therefore, it becomes a new subject facing the academic circles of accounting at present to strengthen the mineral resources accounting and the management, stress mineral resources development and the utility, realize the human sustainable development and energetically develop the cyclic economy, from the viewpoint of value accounting and management of mineral resources.The revised "Mineral Resource Law" of our country adopted in 1996, symbolized the origin of practical operation of the royalty marketable, paid mining of mineral resources and the mineral resources capitalization. It is the prerequisite and basis for the capitalized operation of material resources to include the material resources into the accounting system. However, in the accounting practice system of our country, material resources assets as an item of assets has not been included in accounting practice system for long time in terms of accounts establishment and ledger setting. In view of some questions existing in the theoretical and the practical operation process of "two rights" marketable and the mineral resources capitalized in our country at present in this paper, through the theoretical research and the practical investigation to the problems of international and domestic mineral resources accounting, with reference to the correlative basic standards and international convention of mineral resources accounting practice in overseas developed countries, from two aspects of the theory and accounting practice, the study stresses on the accounting practice of the confirmation and pricing on the mineral resources assets, the mineral resources assets capitalization, the mineral resources depreciation, the mineral resources assets transfer income, joint management of mineral resources assets etc., as well as information disclosure of mineral resources reserves assets;our country mineral resources accounting practice theoretical system and the basic practical framework are established, which is of certain theoretical significance and comparatively important realistic significance to realize the sustainable development of mineral resources, assure the value of mineral resources non-deflated and inflated and impel the accounting internationalization advancement of mineral resources excavation enterprises of our country.The study in this paper covers first the basic theories of mineral resources accounting practice, including mineral resources value theory, mineral resources equity theory, mineral resources capitalization theory, and mineral resources accounting theory. The mineral resources value theory is studied emphatically and the mineral resources value measurement is discussed herein. It is thought that the value of the mineral resources assets includes own value and the labor value transferred from the explored achievement.The mineral resources are believed in this paper with "six factors" of assets, one type of typical time-wasting assets, which should be confirmed, measured. It is thought that the measurement of the historical cost and the value foundation on mineral resources assets has strength and weakness respectively, and the better solving ways is to realize organic combination of two measurements foundations. It is suggested that mineral resources assets should be accounted as the historical cost foundation when first confirmed and measured, reflected in the financial statement according to the historical cost foundation, and simultaneously explored complementary according to value foundation. Namely first confirmation and measurement bases on historical cost foundation, and second confirmation and measurement bases dual foundation. Mineral resources assets pricing methods under the historical cost measurement foundation is adopted, whether the successful efforts method or the full cost method, is determined according to the different characteristics of mineral resources. It is suggested to adopt the successful efforts method for the petroleum or natural gas resources enterprise, and the full cost method for coal excavation enterprise.The premise of mineral resources assets practice is that mineral resources must realize capitalization. Three ways of the mineral resources capitalization in this paper, i.e. direct purchase, financing rents, borrows into by stages as well as accounts processing under three kinds of conditions. While being accounted, the account of wasting assets— mineral resources assets should be established .The value that mineral resources assets transferred to the minerals cost, should be accrued by the depletion way. The general international method is production method. It is thought herein that, the depletion accrued should be calculated according to ore deposit mining rule and the mineral resource assets value changing rule of ore deposit in different stage as three stages of the increasing production time, the steady production time, and the weakening time.The paper has studied the transfer problem of mineral resources assets, transfer accountant's core problem is the problem that when transfer occurs, whether an income or the loss should be confirmed. The paper in view of SFAS19 discusses the question of accounting processes of the undeveloped mining area transfer and the developed mining area transfer.The paper studied the joint operation forms of mineral resources assets;under the join operational situation the accounting processes of work person and non- work person as well as the commodity purchase and transfer of the joint mining area.The paper has studied the mineral resources assets information disclosure forms, suggested the mineral resource assets use the report form of "the historical cost + reserves quantity", adopt the historical cost measurement attribute in balance sheet, and carry on value disclosure of the reserves information in the statement annotate.In brief, the mineral resources excavation enterprises have more special production process, which has caused the characteristics of its high investment, the high risk, long investment return time of production and operation, little correlation between discovery cost of the ore deposit reserves and the discovery reserves value etc., which has determined that mineral resources accounting has its own characteristic in confirmation, measurement and report, thus has caused its accounting practice content and the pattern different from those of other professions. Along with accounting internationalization advancement, our country must be in line with the international accounting practical convention, combined with our country condition, the mineral resources assets accounting practice system and basic framework are established, which is also the target of this paper.