The Research On The Measurement For Oil And Gas Assets

Oil and gas accounting has gradually been of interests to accounting practitioners, regulators and academics. Since 1999, domestic accounting world gradually has paid more attention to it. At present, domestic accounting world focuses on the accounting question on producing activities in oil and gas industry. "Accounting Standard No.27: Mining Activities in oil and gas Industry"issued by Ministry of Finance on 15th Feburary, 2006. Indeed, the question on measurement for oil and gas assets is an indispensable element during the research on oil and gas accounting standards. Specially now the question on intially counting the price of oil and gas assets is deeply discussed in domestic accounting world. However, regarding some questions on the measurement for oil and gas assets such as depreciation, impairment, alienation of oil and gas assets and so on, there are few researchers to deeply study them in China. The question on measurement for oil and gas assets is clearly different from the same question in other industry because of particularities of oil and gas industry. If we still conduct these problems under the"Enterprises Accounting System"and special accounting standards, it is inevitable to affect the usefulness of information provided by financial reports of oil and gas firms in decisions. Specially whether depreciation and impairment are taken and how much they are taken will result in significant effect on the financial condition of oil and gas firms due to the enormous amount involved by depreciation and impairment. It is highly necessary to specially research measurement for oil and gas assets, perfect its measurement methods,and improve the quality of financial statement information of oil and gas firms.There are six parts in this paper, namely the introduction,the research on the methods of intial counting price of oil and gas assets,the research on the depreciation and impairment of oil and gas assets, the research on the measurement for the alienation of oil and gas assets,and the present situation and future improvement of measuring oil and gas assets in China. There are a few oil firms and it is difficult to obtain correlative data in China. Therefore, by profiting from foreign results, relating to the actual situation in China, this paper will adopt normative study to attempt to deeply analyze the question on oil and gas assets measurement in our country, then contribute to consummation of the oil and gas accounting standards implemented in China.The innovative aspects in this article are: (1) in view of the characteristics of oil...