Accounting for interest costs by oil and gas producers

Journal Article · Wed Dec 01 04:00:00 EST 1982 · Oil Gas Tax Q.; (United States)

OSTI ID:6470746

Munter, P; Ratcliffe, T A

In October 1979, the Financial Accounting Standards Board (FASB) issued Statement of Financial Accounting Standards (SFAS) No. 34, entitled Capitalization of Interest Cost. In general this statement requires that interest cost be capitalized as an integral part of the cost of an asset in certain situations contingent on the nature of the asset being acquired and the nature of the acquiring company's capital structure. Subsequent to the issuance of SFAS No. 34, the FASB has amended and interpreted the document four times. The purpose of this paper is to discuss the authoritative conclusions in these documents as they apply to oil and gas producers.

• Research Organization: Texas Tech. University, Lubbock
• OSTI ID: 6470746
• Journal Information: Oil Gas Tax Q.; (United States), Journal Name: Oil Gas Tax Q.; (United States) Vol. 31:2; ISSN OGTQD
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
03 NATURAL GAS
030600 -- Natural Gas-- Economic
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
294002 -- Energy Planning & Policy-- Petroleum
294003 -- Energy Planning & Policy-- Natural Gas
ACCOUNTING
CAPITALIZED COST
COST
FINANCING
INDUSTRY
INTEREST RATE
NATURAL GAS INDUSTRY
PETROLEUM INDUSTRY