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Gold/Mining/Energy : Medinah Mining Inc. (MDHM) -- Ignore unavailable to you. Want to Upgrade?

To: Coz who wrote (9254)	2/18/1999 10:51:00 AM
From: TomNY	Respond to of 25548

All: of general interest to mining fans... Denver, CO (2/17) - PricewaterhouseCoopers said it has launched an essential reference tool for the global mining industry that will greatly assist international harmonization of financial reporting. Titled "Financial Reporting in the Mining Industry for the 21st Century," the reference guide contains details of major accounting practices adopted by the mining industry and relevant accounting standards on an international and national basis. PricewaterhouseCoopers said that globalization and the rapid adoption of international standards means it is now imperative to prepare financial reports which are not only understood and accepted in the country of incorporation, but which are internationally comparable. The reference guide is compliant with International Accounting Standards. Chapters are devoted to issues such as exploration, development and construction expenditure, production, business combinations, joint ventures, depreciation and amortization, inventories, recognizing revenue, hedging, income taxes and royalties, environmental issues and national mining pronouncements. The publication also covers the financial reporting implications of some of the major trends in the mining industry over the past decade, including: (1) significant growth in corporate acquisition activity, (2) continued increase in exposure to sophisticated financial instruments and transactions, (3) an increased focus on mine closure liabilities including environmental and restoration liabilities, and (4) a general focus on the existence and recognition of assets, such as development expenditures, and other liabilities. For information on obtaining a copy of the "Financial Reporting in the Mining Industry for the 21st Century," see the PricewaterhouseCoopers website at pwcglobal.com . Source: NR. Contact: Dick Graff, Denver, CO, (303)573-2802