Statement of Financial Accounting
Standards No. 19
FAS19 Status Page
FAS19 Summary Financial Accounting and Reporting by Oil and Gas
Producing Companies
December 1977
Financial Accounting Standards Board
of the Financial Accounting Foundation
401 MERRITT 7, P.O. BOX 5116, NORWALK, CONNECTICUT 06856-5116
Copyright © 1977 by Financial Accounting Standards Board. All rights rerved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwi, without the prior written permission of the Financial Accounting Standards Board.
Statement of Financial Accounting Standards No. 19
Financial Accounting and Reporting by Oil and Gas Producing Companies December 1977
CONTENTS
Paragraph
1–6–9 Standards of Financial Accounting and Reporting:
Definitions (10)
清蒸鱼怎么做11–14 Accounting at the Time Costs 15–26 Acquisition of Properties (15)
<16–21–23–25 Support Equipment and Facilities. (26)
Disposition of 27–41 Asssment of Unproved Properties (28)
Reclassification of an Unproved Property (29)
Amortization (Depletion) of Acquisition Costs of Proved Properties (30)
Accounting When Drilling of an Exploratory Well 31–32 Accounting When Drilling of an Exploratory-Type Stratigraphic
Test Well 33–34 Amortization and Depreciation of Capitalized Exploratory
Drilling and Development Costs (35)
Depreciation of Support Equipment and Facilities (36)
Dismantlement Costs and Salvage Values (37)
Amortization of Costs Relating to Oil and Gas Rerves
Produced Jointly (38)
看的草书Information Available after the Balance Sheet Date (39)
Surrender or Abandonment 40–41 Mineral Property Conveyances and .42–48–59 Disclosure of 50–56 Disclosure of Capitalized Costs. (57)
Disclosure of Costs Incurred in Oil and Gas 58–59
华为手机怎么隐藏软件Accounting for 60–62 Effective Date 63–64 Appendix A: 65–96 Appendix B: Basis 97-269 Appendix C:
.........................................................................270-275
FAS 19: Financial Accounting and Reporting by Oil and Gas Producing Companies
INTRODUCTION
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1. This Statement establishes standards of financial accounting and reporting for the oil and gas producing activities of a business enterpri. Tho activities involve the acquisition of mineral interests in properties, exploration (including prospecting), development, and production of crude oil, including condensate and natural gas liquids, and natural gas (hereinafter collectively referred to as oil and gas producing activities).
2. Existing authoritative accounting pronouncements do not explicitly or comprehensively establish standards of financial accounting and reporting for tho activities. Numerous alternative accounting practices are prently followed by oil and gas producing companies, and the nature and extent of the information they disclo in their financial statements about their oil and gas producing activities vary considerably from company to company. The Board is issuing this Statement to address the financial accounting and reporting issues that led to the alternative practices.
3. Appendix A contains background information. Appendix B ts forth the basis for the Board's conclusions, including alternatives considered and reasons for accepting some and rejecting others. Appendix C is a glossary of terms.
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4. The accounting standards in this Statement adhere to the traditional historical cost basis. Although the Board considered both discovery value and current value as alternative bas of accounting for oil and gas rerves, it determined for the reasons discusd in paragraphs 133-141 that any decision on applying value accounting to oil and gas companies should await resolution of the broader issue of the general applicability of value accounting in the Board's project, "Conceptual Framework for Financial Accounting and Reporting."
5. This Statement superdes FASB Statement No. 9, "Accounting for Income Taxes—Oil and Gas Producing Companies."
Copyright © 1977, Financial Accounting Standards Board Not for redistribution
SCOPE
6. This Statement applies only to oil and gas producing activities; it does not address financial accounting and reporting issues relating to the transporting, refining, and marketing of oil and gas. Also, this Statement does not apply to activities relating to the production of other wasting (nonregenerative) natural resources; nor does it apply to the production of geothermal steam or to the extraction of hydrocarbons as a by-product of the production of geothermal steam and associated geothermal resources as defined in the Geothermal Steam Act of 1970; nor does it apply to the extraction of hydrocarbons from shale, tar sands, or coal.
7. Accounting for interest on funds borrowed to finance an enterpri's oil and gas producing activities is excluded from consideration in this Statement becau the broader subject of accounting for interest costs in general is a project prently on the Board's technical agenda. 8. This Statement prescribes disclosures related to an enterpri's oil and gas producing activities that are considered necessary for fair prentation of the enterpri's financial position, results of operations, and changes in financial position in conformity with generally accepted accounting principles. Tho disclosures are only part of the information that may be needed for investment, regulatory, or national economic planning and energy policy decisions.
9. The Addendum to APB Opinion No. 2, "Accounting for the 'Investment Credit'," states that "diffe
rences may ari in the application of generally accepted accounting principles as between regulated and nonregulated business, becau of the effect in regulated business of the rate-making process" and discuss the application of generally accepted accounting principles to regulated industries. Accordingly, the provisions of the Addendum shall govern the application of this Statement to tho oil and gas producing operations of a company that are regulated for rate-making purpos on an individual-company-cost-of-rvice basis. STANDARDS OF FINANCIAL ACCOUNTING AND REPORTING
Definitions
10. The glossary in Appendix C defines the following terms as they are ud in this Statement:
专升本招生a. Proved rerves.
b. Proved developed rerves.
c. Proved undeveloped rerves.
生姜泡脚Copyright © 1977, Financial Accounting Standards Board Not for redistribution龙应台散文
