SIGNIFICANT ACCOUNTING POLICIES MANAGEMENT CERTIFICATION	6 Months Ended
Mar. 31, 2013
SIGNIFICANT ACCOUNTING POLICIES MANAGEMENT CERTIFICATION [Abstract]
SIGNIFICANT ACCOUNTING POLICIES MANAGEMENT CERTIFICATION	NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES MANAGEMENT CERTIFICATION The financial statements herein are certified by the officers of the Company to present fairly, in all material respects, the financial position, results of operations and cash flows for the periods presented in conformity with accounting principles generally accepted in the United States of America, consistently applied. BASIS OF PRESENTATION Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. We believe that the disclosures are adequate to make the financial information presented not misleading. These condensed financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto for the year ended September 30, 2012. All adjustments were of a normal recurring nature unless otherwise disclosed. In the opinion of management, all adjustments necessary for a fair statement of the financial position results of operations for the interim period have been included. The results of operations for such interim periods are not necessarily indicative of the results for the full year. CASH AND CASH EQUIVALENTS The Company considers all highly liquid investments with maturities of three months or less to be cash equivalents. FAIR VALUE OF FINANCIAL INSTRUMENTS The Company's financial instruments consist of cash, prepaid expenses, accounts payable and accrued liabilities, amounts due to officers and convertible notes payable. The carrying amount of these financial instruments approximates fair value due either to length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements. It is management's opinion that the Company is not exposed to significant interest, currency or credit risks arising from its other financial instruments and that their fair values approximate their carrying values except where separately disclosed. USE OF ESTIMATES The preparation of financial statements in conformity with generally accepted accounting principles of the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the year. The more significant areas requiring the use of estimates include asset impairment, stock-based compensation, and future income tax amounts. Management bases its estimates on historical experience and on other assumptions considered to be reasonable under the circumstances. However, actual results may differ from the estimates. MINERAL PROPERTIES Costs of exploration, carrying and retaining unproven mineral lease properties are expensed as incurred. Mineral property acquisition costs are capitalized including licenses and lease payments. Although the Company has taken steps to verify title to mineral properties in which it has an interest, these procedures do not guarantee the Company's title. Such properties may be subject to prior agreements or transfers and title may be affected by undetected defects. Impairment losses are recorded on mineral properties used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets' carrying amount. LOSS PER SHARE Basic loss per share is calculated using the weighted average number of common shares outstanding and the treasury stock method is used to calculate diluted earnings per share. For the years presented, this calculation proved to be anti-dilutive. DIVIDENDS The Company has not adopted any policy regarding payment of dividends. No dividends have been paid during the period shown. INCOME TAXES The Company provides for income taxes using an asset and liability approach. Deferred tax assets are reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. No provision for income taxes is included in the statement due to its immaterial amount, net of the allowance account, based on the likelihood of the Company to utilize the loss carry-forward. See Note 5. NET LOSS PER COMMON SHARE Net loss per common share is computed based on the weighted average number of common shares outstanding and common stock equivalents, if not anti-dilutive. The Company has not issued any potentially dilutive common shares. RECENTLY ADOPTED PRONOUNCEMENTS The Company does not expect the adoption of other recently issued accounting pronouncements to have a significant impact on the Company's results of operations, financial position or cash flow. RECLASSIFICATIONS Certain balances in the prior years have been reclassified to conform to the current year presentation.

SIGNIFICANT ACCOUNTING POLICIES MANAGEMENT CERTIFICATION

6 Months Ended

Mar. 31, 2013

SIGNIFICANT ACCOUNTING POLICIES MANAGEMENT CERTIFICATION [Abstract]

SIGNIFICANT ACCOUNTING POLICIES MANAGEMENT CERTIFICATION

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES MANAGEMENT CERTIFICATION

The financial statements herein are certified by the officers of the Company to

present fairly, in all material respects, the financial position, results of

operations and cash flows for the periods presented in conformity with

accounting principles generally accepted in the United States of America,

consistently applied.

BASIS OF PRESENTATION

Certain information and footnote disclosures normally included in annual

financial statements prepared in accordance with generally accepted accounting

principles have been condensed or omitted. We believe that the disclosures are

adequate to make the financial information presented not misleading. These

condensed financial statements should be read in conjunction with the audited

consolidated financial statements and the notes thereto for the year ended

September 30, 2012. All adjustments were of a normal recurring nature unless

otherwise disclosed. In the opinion of management, all adjustments necessary for

a fair statement of the financial position results of operations for the interim

period have been included. The results of operations for such interim periods

are not necessarily indicative of the results for the full year.

CASH AND CASH EQUIVALENTS

The Company considers all highly liquid investments with maturities of three

months or less to be cash equivalents.

FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company's financial instruments consist of cash, prepaid expenses, accounts

payable and accrued liabilities, amounts due to officers and convertible notes

payable.

The carrying amount of these financial instruments approximates fair value due

either to length of maturity or interest rates that approximate prevailing

market rates unless otherwise disclosed in these financial statements. It is

management's opinion that the Company is not exposed to significant interest,

currency or credit risks arising from its other financial instruments and that

their fair values approximate their carrying values except where separately

disclosed.

USE OF ESTIMATES

The preparation of financial statements in conformity with generally accepted

accounting principles of the United States requires management to make estimates

and assumptions that affect the reported amounts of assets and liabilities and

disclosure of contingent assets and liabilities at the date of the financial

statements and the reported amounts of revenues and expenses during the year.

The more significant areas requiring the use of estimates include asset

impairment, stock-based compensation, and future income tax amounts. Management

bases its estimates on historical experience and on other assumptions considered

to be reasonable under the circumstances. However, actual results may differ

from the estimates.

MINERAL PROPERTIES

Costs of exploration, carrying and retaining unproven mineral lease properties

are expensed as incurred. Mineral property acquisition costs are capitalized

including licenses and lease payments. Although the Company has taken steps to

verify title to mineral properties in which it has an interest, these procedures

do not guarantee the Company's title. Such properties may be subject to prior

agreements or transfers and title may be affected by undetected defects.

Impairment losses are recorded on mineral properties used in operations when

indicators of impairment are present and the undiscounted cash flows estimated

to be generated by those assets are less than the assets' carrying amount.

LOSS PER SHARE

Basic loss per share is calculated using the weighted average number of common

shares outstanding and the treasury stock method is used to calculate diluted

earnings per share. For the years presented, this calculation proved to be

anti-dilutive.

DIVIDENDS

The Company has not adopted any policy regarding payment of dividends. No

dividends have been paid during the period shown.

INCOME TAXES

The Company provides for income taxes using an asset and liability approach.

Deferred tax assets are reduced by a valuation allowance if, based on the weight

of available evidence, it is more likely than not that some or all of the

deferred tax assets will not be realized. No provision for income taxes is

included in the statement due to its immaterial amount, net of the allowance

account, based on the likelihood of the Company to utilize the loss

carry-forward. See Note 5.

NET LOSS PER COMMON SHARE

Net loss per common share is computed based on the weighted average number of

common shares outstanding and common stock equivalents, if not anti-dilutive.

The Company has not issued any potentially dilutive common shares.

RECENTLY ADOPTED PRONOUNCEMENTS

The Company does not expect the adoption of other recently issued accounting

pronouncements to have a significant impact on the Company's results of

operations, financial position or cash flow.

RECLASSIFICATIONS

Certain balances in the prior years have been reclassified to conform to the

current year presentation.

- Definition

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

Liberty Coal Energy Corp. 10-Q