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| Author: | Pratt, K. |
| Title: | Accounting for the value of oil and gas reserves. |
| Journal: | Management Accounting (London)
1990 : OCT, VOL. 68:9, p. 18-21 |
| Index terms: | OIL INDUSTRY ACCOUNTING FINANCIAL RISK |
| Language: | eng |
| Abstract: | Review of initiative by the UK oil industry to tackle the problem of accounting for the value of oil and gas reserves, which is missing from company balance sheets. Historic cost. Risk and uncertainty of exploration for oil and gas reserves. User requirements. Conclusions drawn from consultations. Methods of reporting reserve values. Current-cost accounting. Discovery value accounting. Current-value accounting. Reserve-recognition accounting. Discounted future net cashflows. Detailed disclosures. Presentation of value information. Issues. A Box gives a summary of 20 issues from the discussion paper. |
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