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AcG-16 Oil and gas accounting - full cost

Effective date:

January 1, 2011

Published by the AcSB:

December 2009


Canadian oil and gas companies account for exploration and development costs using either the "full cost" or "successful efforts" accounting method. This Guideline presents the views of the Accounting Standards Board on the application of the full cost method of accounting for oil and gas exploration, development and production activities.

History of AcG-16




December 2009

Part II of the CPA Canada Handbook  issued

Effective for fiscal years beginning on or after January 1, 2011.

Note: The above summary does not include details of consequential amendments made as the result of other projects.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.