... Auditing Standards and Audit Reports
D
AN M. GUY, PhD, CPA
Clemson University
A
LAN J. WINTERS, PhD, CPA
Clemson University
VOLUME TWO: SPECIAL INDUSTRIES AND SPECIAL TOPICS
27 Oil, Gas, and Other ... CONTRIBUTORS
Tenth Edition
ACCOUNTANTS’
HANDBOOK
VOLUME TWO:
Special Industries
and Special Topics
Luis E. Cabrera, CPA, is a technical manager with the AICPA’s Profess...
... Auditing Standards and Audit Reports
D
AN M. GUY, PhD, CPA
Clemson University
A
LAN J. WINTERS, PhD, CPA
Clemson University
VOLUME TWO: SPECIAL INDUSTRIES AND SPECIAL TOPICS
27 Oil, Gas, and Other ... ACCOUNTING AND GENERAL TOPICS
1 The Framework of Financial Accounting Concepts and Standards
R
EED K. STOREY, PhD, CPA
Financial Accounting Standards Board
2 Financial Accou...
... AND CONSTRUCTION
Securities and Exchange Commission, “Financial Accounting and Reporting for Oil and Gas Producing Activi-
ties Pursuant to the Federal Securities Laws and the Energy Policy and ... contamination and hazardous waste disposal and clean up is regulated by the
Resource Conservation and Recovery Act of 1976 (RCRA) and the Comprehensive Environ-
mental Response,...
... of safety and soundness laws to
be addressed in the compliance report: (1) federal statutes and regulations concerning
transactions with insiders and (2) federal and state statutes and regulations ... Currency (OCC) and the Federal Reserve Board
(FRB). These entities were responsible for designing and establishing policies and procedures for
the regulation and supervision of...
... and accrue and expense associated costs and re-
verse previously reported revenue for refunds and concessions, such as a provision to accept a li-
cense fee rate below market.
(vii) Returns and ... Abandonments. In the case of abandonments, when no return
or only a partial return is permitted, at the time the abandonment is both probable and es-
timable, the asset should be writte...
... the special assessment levy is shown below.
Special assessments receivable $XXX
Special assessment revenue $XXX
Deferred special assessment revenue $XXX
When the current special assessments and ... discussion
and analysis (MD&A); and (2) determine and demonstrate compliance with finance-related legal and
contractual provisions. The requirements concerning the government...
... Statements and (6)
Management’s Discussion and
Analysis—for State and Local
Governments
Statement No. 35 Basic Financial Statements– and (7)
Management’s Discussion and
Analysis—for Public Colleges
and ...
NCGA Statements 1, 4, and 5,
NCGA Interpretation 8, and GASB
Statement Nos. 10, 16, and 18
Technical Bulletin Purpose and Scope of GASB Technical None
No. 84-1 Bullet...
... income (restricted and unrestricted) and all investment gains and losses (re-
alized and unrealized) are reported as nonoperating revenues and expenses, in accordance with
GASB No. 31 and GASB No. ... improve the efficiency and effectiveness of the health
care system, reduce health care fraud and abuse, help ensure security and privacy of health infor-
mation, and enforce s...
... Independent research and development and bid and proposal costs
• Royalties and other costs for use of patents
• Selling and distribution costs
• Travel and relocation costs, as related to: special or ... rearrangement, production planning, and training; loss of
useful value of special tooling and special machinery and equipment, which cannot reasonably
be used on othe...
... Business, and
Extraordinary, Unusual and Infrequently Occurring Events and Transactions,” APB Opinion No. 30. AICPA,
New York, 1973.
Accounting Standards Executive Committee, “Accounting for and Reporting ... issuance of 412 earned shares
($14,000 Ϭ $34) and the related adjustments
to accrued compensation and deferred
income taxes
Computation of compensation expense and the rela...