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what are the pertinent accounting pronouncements which areapplicble to up-streem oil and gas entites?...

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Accounting

what are the pertinent accounting pronouncements which areapplicble to up-streem oil and gas entites? please list them withexplainations. Thank you

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Companies which are functioning in the exploration and development of crude oil and natural gas generally have two accounting approaches the successful efforts SE method and the full cost FC method The main difference of these approaches are the treatment of specific operating expenses relating to the exploration of new oil and natural gas reserves Before the amendment happen in    See Answer
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In: Accountingwhat are the pertinent accounting pronouncements which areapplicble to up-streem oil and gas entites? please...what are the pertinent accounting pronouncements which areapplicble to up-streem oil and gas entites? please list them withexplainations. Thank you

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