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March 18, 2026The Accounting Review

A Look at Accounting Principles Used by Oil and Gas Producers.

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Authors

HBHorace R. BrockBritish Airways (United Kingdom)

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Implication

This survey examines accounting practices in oil companies, revealing inconsistencies and implications for industry standards.

Key Points

  • The research aims to analyze the accounting principles and practices of oil companies regarding costs associated with oil and gas properties.
  • Surveyed accounting policies of 61 oil companies in the U.S.
  • Evaluated inconsistencies in accounting for leasehold, exploration, and development costs.
  • Classified variations based on individual practices and their proponents.
  • Identified significant inconsistencies in the industry's accounting practices.
  • Highlighted specific unwarranted inconsistencies in cost accounting for oil companies.
  • Outlined essential factors influencing accounting practices, such as federal tax considerations and theoretical correctness.

Cite This Study

Horace R. Brock (1958) studied this question.

synapsesocial.com/papers/69ba43f74e9516ffd37a5bb0https://doi.org/10.2308/tar-7130402
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Also Consider

Synapse has enriched 5 closely related papers on similar clinical questions. Consider them for comparative context:

  1. 1An Examination of the Association Between Accounting and Share Price Data in the Extractive Petroleum Industry.1975
  2. 2Properties of Accounting Numbers Under Full Costing and Successful-Efforts Costing in the Petroleum Industry.1976
  3. 3An Examination of the Association Between Accounting and Share Price Data in the Extractive Petroleum Industry: A Comment and Extension.1978
  4. 4Accounting for Oil and Gas Producing Companies, Part 1: Exploration, Acquisition, Development, and Production (Book).1982
  5. 5Rational Economic Behavior and Lobbying on Accounting Issues: Evidence from the Oil and Gas Industry.1989