Research On Related Issues About The Setting Of Petroleum & Natural Gas Accounting Standards

This thesis discusses the issues related to the setting of petroleum & gas accounting standards in China by normative method. Specifically, on the basis of analyzing the U.S. active petroleum & gas accounting standards, we try to make a choice between Successful Efforts method and Full cost method, the two most popular accounting methods in the world giant enterprises. Basing the whole analytical course on the fundamental conditions in China and paying special attention to the coordination with international accounting standards, we put petro& gas assets--the most critical assets in petro & gas corporations into the holistic accountingframework to discuss, considering the recognition, measurement, and disclosure of oil & gas assets, and come to the conclusion that Successful Efforts method is more preferable to the setting of Chinese petroleum & gas accounting standards. Meanwhile, during the discussion of specific accounting issues about petroleum & gas accounting, we sufficiently use the circumstance analysis method to advise how to use Successful Efforts method for reference while discussing specific accounting issues and give the corresponding reasons. Finally, we put forward a preliminary framework of Chinese Petroleum Accounting Standard according to the above discussions and analyses.