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ASC 932 — Extractive Activities — Oil and Gas

Below is an overview of FASB Accounting Standards Codification Topic 932, Extractive Activities — Oil and Gas, as well as a list of FASB Accounting Standards Updates (ASUs) and proposed ASUs related to this Topic. The full text of ASC 932 can be found in the FASB Accounting Standards Codification (link to the FASB's Web site; registration required). Also, the full text of the Codification and Deloitte-authored Q&As related to the Codification are available in the Deloitte Accounting Research Tool (DART) Web site (subscription required).


ASC 932-10 notes the following:


This Topic provides guidance specific to oil- and gas-producing activities. It contains several Subtopics that interact with other Topics in the Codification. Guidance in these Subtopics rather than the more general guidance in the other Topics shall be applied to the specific issues addressed.

ASC 932 contains intersecting Subtopics that provide industry-specific guidance related to the following Codification Topics:

Content from the FASB Accounting Standards Codification® included at is copyrighted by the Financial Accounting Foundation, 401 Merritt 7, PO Box 5116, Norwalk, CT 06856-5116, and is reproduced with permission.

FASB Accounting Standards Updates

The following ASUs amended the guidance in this Topic:

Proposed FASB Accounting Standards Updates

No current proposed ASUs on Topic 932

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.