Research On Measurement And Disclosure Of Oil And Gas Reserves Assets

Oil and gas resources as part of the mineral resources, is not only a large gap of available natural resources, but also the resource of present profit. With the three major oil and gas companies listed successful, oil and gas reserves assets will be paid more attention. So the measurement and disclosure of oil and gas reserves assets will provide reliable related accounting information. Then, government and the mineral resources development enterprise would use this information as the important basis to make the right decisions. In the meantime, shareholders could understand the company’s financial position better. However, the present study of abroad and domestic little has been done on oil and gas reserves assets’measurement and information disclosure problem. So, oil and gas reserves assets can not be accurately and truly reflected in its value.At first, with the comparative analysis of abroad and domestic on definition of oil and gas assets between theory and practice, combining the standard of reserve classifications, the author defining oil and gas reserves assets. Oil and gas reserves assets include both external value and internal value. Second, according to the particularity of oil and gas reserves assets, the author make analyze the limits of oil and gas reserves assets’measurement and disclosure under historical cost and the influence on the quality of accounting information. Base on this, the author put forward the fair value of measurement and disclosure of oil and gas reserves assets. Third, with domestic reality considered, according to the XAB case comparative study on the old and improvement income current value models, to improve our oil and gas reserves assets under fair value accounting. Finally, with the feasibility of measurement and disclosure of oil and gas reserves assets, the author study on the difficult of oil and gas reserves assets’ measurement and disclosure under fair value, and put forwards some detailed advises.