Home  Journals  International Accounting  3(135) - 2010 March

Book keeping of the contracts concluded the oil and gas companies, in according to IFRS

Available online: 30 March 2010

Subject Heading: Account problems

JEL Classification: 

In this article the authors reviewed main types of agreements, concluded by the oil and gas companies in the foreign countries. these are the following: Rent agreements, Concession agreements, Product sharing agreement. Each of above mentioned agreements has peculiarities in concluding and in accounting according to IAS standards. In case not all specifications are covered by IAS standards authors reviewed also GAAP USA standards regarding theses agreements.

Keywords: Oil and gas companies, IAS, GAAP USA, SORP 2001, upstream, oil extraction stages, expenses, income, contractual accounting, Product sharing agreement, Concession agreement, Rent agreement, Joint venture accounting

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ISSN 2311-9381 (Online)
ISSN 2073-5081 (Print)

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