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Accounting for the impact of inflation: the experience of the oil companies

Journal Article · · Oil Gas Tax Q.; (United States)
OSTI ID:6940089
; ;
Most of the controversy over the effects of inflation on corporate financial statements centers on which accounting method provides the best information. The Financial Accounting Standards Board (FASB) has issued Statement No. 33 (SFAS No. 33) requiring companies of specified sizes to report information based on both current costs and constant costs. The background and accounting requirements of SFAS No. 33 are discussed and compared with those issued in 1976 to see how changing price levels affected the oil industry. 4 tables. (DCK)
Research Organization:
Texas A and M Univ., College Station
OSTI ID:
6940089
Journal Information:
Oil Gas Tax Q.; (United States), Journal Name: Oil Gas Tax Q.; (United States) Vol. 24:2; ISSN OGTQD
Country of Publication:
United States
Language:
English

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02 PETROLEUM
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ECONOMIC IMPACT
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