AccountingManagementFinance Implications of transitioning to IFRS for financial analysts in the oil and gas production industry CAPELLA UNIVERSITY Kenneth Granberry ByersRachel NGlobalization is changing the landscape of the investment world. A shift away from national capital markets to global capital ...
Entity A has a long-term supply contract for natural gas that is priced using a contractually specified formula that references commodities and other factors (for example, gas oil, fuel oil and other components such as transport charges). Entity A hedges the gas oil component in that supply ...
IFRS 6, exploration for and evaluation of mineral resources The impact of International Financial Reporting Standards (IFRS® Standards) has been felt extensively in the exploration industry – particularly the oil and gas industry where key dilemmas and judgements made are greatest at the explorat...
exploration for and evaluation of mineral resources: The search for mineral resources, including minerals, oil, natural gas and similar non-regenerative resources after the entity has obtained legal rights to explore in a specific area, as well as the determination of the technical feasibility and ...
Areas of focus Financial accounting advisory services Oil and gas Audit Office Tokyo, Japan Kan is an active leading member of a dedicated team that provides International Financial Reporting Standards (IFRS)-related services in EY Japan. In addition to support relating to accounting standards for...
Leases for the exploration of non-regenerative resources such as oil, gas, etc. Service concession arrangements Licenses of intellectual property Concurrently, lessees reporting under IFRS 16 may choose to take advantage of practical expedients that exclude certain types of leases from capitalization. Th...
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This is a summary of countries that are hyperinflationary for IFRS Accounting standards purposes as at 30 June 2025. Learn more. 08 May 2025 EY Global CRS ISSB proposes amendments to greenhouse gas (GHG) emissions disclosures The ISSB’s Exposure Draft proposes to amend IFRS S2 to clarify...
Lastly the guidance on production stripping applies to all extractive activities other than oil and gas. The stripping costs incurred during the production phase of a mine are included in the cost of inventory extracted during the period. Treatment required under IFRS The treatment required under ...
We address these issues by analyzing a sample of 286 public firms in the EU that operate in particular industries, i.e. the oil-and-gas production, petroleum, chemical, communications, healthcare, and airline transportation, during the period 2016–2019 for a total of 1144 firm-year observatio...