Home  Journals  International Accounting  33(231) - 2012 September

Provision for environmental restoration in oil and gas field: practical nuances of calculation

Available online: 13 September 2012

Subject Heading: Accounting problems

JEL Classification: 

By preparation of the international reporting of the oil and gas companies one of the specific moments is recognition in the accounting of obligations on a conclusion from operation of fields and to carrying out nature protection actions. In the article the most difficult aspects of calculation of reserves on environment restoration are analyzed, the methodology of the accounting of the difficult moments, providing increase of accuracy of calculation of financial factors on the basis of the reporting, reduction of terms and audit cost is offered.

Keywords: provisions, environment, environmental protection obligations, asset retirement obligations, IFRS, discounting of liabilities, amortization of discounting, discounting rate, costs capitalization, reevaluation of liabilities

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

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