Accounting

Oil and Gas Accounting: Upstream Operations (Portfolio 5206)

  • This Portfolio covers a full scope of accounting and financial reporting standards and practices for upstream oil and gas activities both in the United States and internationally.

Description

BNA Tax and Accounting Portfolio 5206-2nd, Oil and Gas Accounting: Upstream Operations (Accounting Policy and Practice Series) covers a full scope of accounting and financial reporting standards and practices for upstream oil and gas activities both in the United States and internationally.

All aspects of upstream financial reporting are discussed, from the initial testing and investigation of potential prospects to the acquisition of interests, exploration, development, production, and eventual abandonment. For each topic covered, reporting under U.S. standards and international standards is presented on a comparative basis. Supplemental disclosure requirements for oil and gas activities are discussed as well as topics of importance to financial professionals in the field of oil and gas accounting, including the computation of unitizations and equalizations, well economics, and common industry ratios used in analysis and benchmarking.

This Portfolio may be cited as BNA Tax and Accounting Portfolio 5206-2nd, Nichols, Oil and Gas Accounting: Upstream Operations (Accounting Policy & Practice Series).

Table of Contents

I. Introduction and Scope of Portfolio
II. Successful-Efforts Method of Accounting for Exploration and Development Activities
III. Full-Cost Method of Accounting for Exploration and Development Activities
IV. Impairment
V. Asset Retirement Obligations
VI. Accounting for Production Activities
VII. Revenue Accounting
VIII. Accounting for Joint Interest Operations
IX. Unitizations
X. Conveyances
XI. Disclosures
XII. Basic Well Economics

nichols-linda-2015
Linda Nichols
Assoc Dean
Collins College Of Bus-U Of Tulsa