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Heads Up on new oil and gas disclosures

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08 Jan 2010

Deloitte (United States) has published a Heads Up newsletter titled FASB Updates Oil and Gas Reserve Estimation and Disclosure Requirements.

The newsletter explains Accounting Standards Update (ASU) 2010-03, which FASB issued on 6 January 2010 to align the FASB's oil and gas reserve estimation and disclosure requirements in ASC 932* with new requirements of the SEC that became effective on 31 December 2009. Click to Download the Heads Up Newsletter (PDF 132k).

 

*Accounting Standards Codification (ASC) 932 comprises guidance previously contained in FASB Statements 19 and 69, Interpretations 33 and 36, and FSP FAS 19-1.

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