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Entities with Oil and Gas Producing Activities - Audit and Accounting Guide
Featuring over 200 pages of invaluable guidance to help you improve your industry knowledge, fine-tune your strategies, and provide high-quality services to your clients.

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Product details

First update in 4 years!

Who Will Benefit

  • Practitioners and those in industry that work in the oil and gas industry.

Key Topics

  • An updated illustrative representation letter that contains industry-specific representations.
  • Discussion and interpretive guidance associated with FASB ASC 606, Revenue from Contracts with Customers.

As fluctuating oil prices, off-shore drilling, and other energy-related issues impact the way your clients conduct business, it's essential to have a keen understanding of the domestic and international topics and trends facing the oil and gas industry today.

This 2018 edition includes over 200 pages of invaluable guidance to help you improve your industry knowledge, fine-tune your strategies, and provide high-quality services to your clients. This publication provides important technical guidance, summarizes new standards and practices, and delivers "how-to" advice for handling audit and accounting issues that will be critical to your success.

Updates

  • FASB ASU No. 2014-08,Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting
  • Discontinued Operations and Disclosures of Disposals of Components of an Entity
  • FASB ASU No. 2014-09, Revenue from Contract with Customers (Topic 606)
  • FASB ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis
  • FASB ASU No. 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities
  • FASB ASU No. 2016, 02, Leases (Topic 842)
  • FASB ASU No. 2017-01, Business Combination (Topic 805): Clarifying the Definition of a Business
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American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

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