AcG-16 Oil and gas accounting - full cost
| Effective date: |
January 1, 2011 |
|
Published by the AcSB: |
December 2009 |
Overview
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
|
Date |
Development |
Comments |
|
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.