scholarly journals PROBLEMS OF LEGAL AND EVALUATION OF THE OBJECTS OF SUBSOIL USAGE

2017 ◽  
Vol 1 ◽  
pp. 216
Author(s):  
Natalia Pashkevich ◽  
Tatyana Tarabarinova
Keyword(s):  
Financial Reporting ◽  
Oil And Gas ◽  
Mineral Resources ◽  
Geological Exploration ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
Exploration Process ◽  
Normative Documents ◽  
Legislative Framework ◽  
Oil And Gas Companies

Evaluation of the objects in the mineral resources sector depend on type of the legislative framework for the different stages of exploration process. The article covers to problems of legal and evaluation to objects of subsoil usage according to different stages of geological exploration in International Financial Reporting Standard 6 «Exploration for and Evaluation of Mineral Resources», Russian Financial Standard 24/2011 « Cost accounting of the mineral resources deployment», US GAAP and other normative documents. The results present the possibility of capitalizing mineral reserves as assets in mining oil and gas companies.

CAPITALIZATION OF MINERAL RESOURCES AS AN INNOVATION ECOLOGICAL STRATEGY

2021 ◽  
pp. 86-96
Author(s):  
T. A. Tarabarinova ◽  
◽  
E. I. Golovina ◽  
Keyword(s):  
Oil And Gas ◽  
Mineral Resources ◽  
Ecological Strategy ◽  
Geological Exploration ◽  
Exploration Process ◽  
Normative Documents ◽  
Environmental Capital ◽  
Oil And Gas Companies ◽  
Us Gaap

The paper presents issues of evaluation objects of subsoil usage and reflecting information of mineral assets for oil and gas companies. Estimation of the objects in the mineral resources sector is regulated by IFRS 6 «Exploration for and Evaluation of Mineral Resources», Russian Financial Standard, US GAAP and other normative documents. The authors` idea is to capitalize costs connected with the stages of geological exploration process, what is considered as an innovative component. Concepts of natural and environmental capital are overviewed. Different classifications of reserves and mineral resources of various categories of oil and gas are analyzed. The results of the study show that capitalizing reserves as mineral assets in oil and gas companies is possible and economically profitable.

scholarly journals International Financial Reporting Standard (IFRS) Adoption and Its Impact on Financial Reporting: Evidence from Listed Nigeria Oil and Gas Companies

2020 ◽  
Vol 9 (1) ◽  
pp. 464
Author(s):  
Murtala Zakari
Keyword(s):  
Financial Reporting ◽  
Oil And Gas ◽  
Financial Statements ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
Financial Reports ◽  
Significance Level ◽  
Ifrs Adoption ◽  
Oil And Gas Companies ◽  
The Impact

This study seeks to investigate the impact of IFRS adoption on financial reporting in Nigeria Oil and Gas sector; whether it leads to significant financial reporting improvement in terms of value addition and quality; whether it reduces information asymmetry and increases investors’ confidence and understanding of the financial reports. To achieve this, data were collected from financial statements prepared using IFRS for the periods 2012-2016, and financial statements prepared using Nigeria GAAP for the periods 2007-2011, i.e. pre and post IFRS adoption in Nigeria for a period of 5years each. Analysis was conducted to test for the significance level of ROE, PAT/Sales, CA/CL, and debt-to-equity using mean, standard deviation of ratios, and T-test (paired) for both periods. The researcher found that Nigerian GAAP is more attractive and promising to shareholders than IFRS. In the same vein, IFRS is more attractive and promising to long term lenders than Nigerian GAAP. The study concludes that there is no significant financial reporting difference and quality as well as increased comparability and investors/shareholders return on investment, in adopting IFRS compare to the Nigerian GAAP by the listed Oil and Gas companies of Nigeria.

International Financial Reporting Standards and Value Relevance of Accounting Information: A Mult-Institutional Perspectives from Nigeria Quoted Firms

2018 ◽  
Vol 2 (2) ◽  
pp. 1-14
Author(s):  
Davies Stanley Diepiriye
Keyword(s):  
Financial Reporting ◽  
Oil And Gas ◽  
Value Relevance ◽  
Accounting Information ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
Financial Reporting Standards ◽  
Oil And Gas Firms

This study examined the effect of International Financial Reporting Standards on value relevance of accounting information of quoted firms in Nigeria. The objective is to examine if International Financial Reporting Standards affect value relevance of accounting information. The study focus on the commercial banks, manufacturing firms, insurance, government agencies and the oil and gas firms, questionnaires were structured and administered to accountants and finance managers. The data analyses adopted was the simple percentages and correlation coefficient. The results found a coefficient of 85.1 %, R2   and adjusted R2   of 60.3% and 51.4 %. We conclude that there is significant relationship between International Financial Reporting Standard and value relevance of accounting information   of quoted firms in Nigeria. We therefore recommend full compliance to the International Financial Reporting Standard, audit firms should adopt fully the International Financial Reporting Standard and Nigerian accounting bodies such as Institute of Chartered Accountants of Nigeria and Association of National Accountants of Nigeria should endeavor to encourage the auditing firms on the relevance of adopting International Financial Reporting Standard.

scholarly journals Adapting the Default Weighted Survival Analysis Modelling Approach to Model IFRS 9 LGD

Risks ◽  
2021 ◽  
Vol 9 (6) ◽  
pp. 103
Author(s):  
Morne Joubert ◽  
Tanja Verster ◽  
Helgard Raubenheimer ◽  
Willem D. Schutte
Keyword(s):  
Survival Analysis ◽  
Financial Reporting ◽  
Proportional Hazards ◽  
Proportional Hazards Model ◽  
Survival Curve ◽  
Cox Proportional Hazards ◽  
Cox Proportional Hazards Model ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
Ifrs 9

Survival analysis is one of the techniques that could be used to predict loss given default (LGD) for regulatory capital (Basel) purposes. When using survival analysis to model LGD, a proposed methodology is the default weighted survival analysis (DWSA) method. This paper is aimed at adapting the DWSA method (used to model Basel LGD) to estimate the LGD for International Financial Reporting Standard (IFRS) 9 impairment requirements. The DWSA methodology allows for over recoveries, default weighting and negative cashflows. For IFRS 9, this methodology should be adapted, as the estimated LGD is a function of in the expected credit losses (ECL). Our proposed IFRS 9 LGD methodology makes use of survival analysis to estimate the LGD. The Cox proportional hazards model allows for a baseline survival curve to be adjusted to produce survival curves for different segments of the portfolio. The forward-looking LGD values are adjusted for different macro-economic scenarios and the ECL is calculated for each scenario. These ECL values are probability weighted to produce a final ECL estimate. We illustrate our proposed IFRS 9 LGD methodology and ECL estimation on a dataset from a retail portfolio of a South African bank.

scholarly journals Lobbying na Regulação Contábil: Evidências do Setor Petrolífero

2014 ◽  
Vol 25 (65) ◽  
pp. 124-144 ◽  
Author(s):  
Odilanei Morais dos Santos ◽  
Ariovaldo dos Santos
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Status Quo ◽  
International Accounting ◽  
International Accounting Standards ◽  
Discussion Paper ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
International Accounting Standards Board

Este trabalho tem como objetivo identificar os fatores determinantes à submissão de cartas comentários, como estratégia de lobbying no contexto da regulação contábil, à audiência pública do Discussion Paper Extractive Activities do International Accounting Standards Board IASB).Os resultados mostram o tamanho como fator determinante, em todas as modelagens utilizadas, indicando que grandes empresas petrolíferas possuem maior probabilidade para realizar lobbying. Essa propensão é verificada para posicionamentos essencialmente desfavoráveis às propostas apresentadas pelo IASB, o que implica em considerar que a revisão/substituição do International Financial Reporting Standard -IFRS6 será um processo complexo e sujeito a pressões por parte das empresas petrolíferas para manter o status quo.

Retrospective Analysis of Geological Exploration 2010 - 2020

2021 ◽  
Author(s):  
Pavel Mostovoy ◽  
Ildar Safarov ◽  
Evgeniy Tumanov ◽  
Maria Zaytseva ◽  
Maksim Aksenov ◽  
...  
Keyword(s):  
Retrospective Analysis ◽  
Oil And Gas ◽  
The Other ◽  
Geological Exploration ◽  
Resource Base ◽  
Success Stories ◽  
Future Production ◽  
Geological Complexity ◽  
Oil And Gas Companies ◽  
Exploration Activity

Abstract Oil and gas companies’ future production profile is shaped by their exploration strategy and resource base development. Gazprom Neft's production profile will include 40% of current exploration projects by 2030. Geological exploration, on the other hand, is a high-risk business because it involves a lot of uncertainty due to the geological complexity of the targets being explored, as well as a lot of risky capital. Taking these factors into account, the Company will need to expand its exploration function as well as its approaches to managing exploration projects in order to meet its lofty aims. To determine the key areas of growth and a strategy for the exploration function development in the coming years, it was decided to first analyze the geological exploration activity in the Company in 2010 – 2020 period. The knowledge of achievements, success stories, and development areas is the fulcrum for future victories. Therefore, retrospective analysis is an important tool for the development of any system of activity - individual, organization, or state.

Accounting Standards and Earnings Quality — Evidence from Registered ADRs

2018 ◽  
Vol 21 (04) ◽  
pp. 1850022
Author(s):  
Yaseen S. Alhaj-Yaseen ◽  
Kean Wu ◽  
Leslie B. Fletcher
Keyword(s):  
Financial Reporting ◽  
Earnings Quality ◽  
Accounting Standards ◽  
Securities And Exchange Commission ◽  
High Quality ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
The Us ◽  
Us Gaap

This paper examines the changes in earnings quality of registered American Depositary Receipts (ADRs) as a result of switching accounting standards. We aim to shed light on the potential impact of International Financial Reporting Standard (IFRS) adoption on US firms. A suboptimal approach to achieve this goal is through examination of US firms’ surrogates such as ADRs. Unlike previous studies, we made a distinction between registered and unregistered ADRs and affirmed that registered ADRs are the closest surrogates with which to conduct our analysis because they are exclusively required to adhere to the Securities and Exchange Commission (SEC)’s stringent disclosure requirements. When cross-listing their equity on the US exchanges, foreign issuers can file their financial reports with the SEC using IFRS, US GAAP (generally accepted accounting principles), or their domestic GAAP with reconciliation to US GAAP. An improvement in earnings quality is documented when ADRs adopt US GAAP or IFRS versus domestic GAAP. However, when the comparison is made between US GAAP and IFRS, no difference in earnings quality is documented. These results indicate that switching to high-quality accounting standards is likely to improve earnings quality. This improvement is maximized when the difference between reporting standards is high and minimized if otherwise. Our conclusion is that the adoption of IFRS in the US is unlikely to change earnings quality of local issuers. Moreover, we drew a distinction between reconciliation with and adoption of high-quality accountings standards and find that while the former can enhance earnings quality, the latter can further improve it.

scholarly journals International financial reporting standards (IFRS) adoption and oil & gas companies performance in Nigeria

2017 ◽  
Vol 5 (2) ◽  
pp. 146 ◽  
Author(s):  
Aminu Abdullahi ◽  
Musa Yelwa Abubakar ◽  
Sunusi Sa’ Ad Ahmad
Keyword(s):  
Financial Reporting ◽  
Oil And Gas ◽  
Reporting Quality ◽  
Easy Access ◽  
Debt Ratio ◽  
Return On Equity ◽  
Financial Reporting Standards ◽  
Ifrs Adoption ◽  
Mandatory Adoption ◽  
Oil And Gas Companies

This study investigates the effect of IFRS adoption on the performance of oil and gas marketing companies in Nigeria. The study utilise financial statements of a sample of eight (8) oil and gas companies operating in the country. These companies were purposively selected due to availability of data. Firms’ performance was proxied by Profit Margin (PM), Return on Assets (ROA) and Return on Equity (ROE) ratios and were considered as dependent variables to be determined by reporting regime (RR) as independent variable. While Current Ratio (CR), quick Test (QT), Total Debt Ratio (TDR) Earnings per Share (EPS) and Equity Debt Ratio (EDR) are use as control variables. The ratios were computed and compared for 4 years (2010 to 2011) before mandatory IFRS adoption and 2012 to 2013 often mandatory adoption OLS, regression with help of eviews 9 was employed for the analysis. The study reveals IFRS adoption has not improved the performance of oil and gas companies in Nigeria. The paper recommended that, oil and gas companies should continue to comply with provisions of IFRS as it will improve their reporting quality which may also improve their performance as result of more investment flow, easy access to capital and comparability.

scholarly journals IFRS based Zakat Reporting: Adoption Rational WesternMethod into Institutional Accountability

IKONOMIKA ◽  
2018 ◽  
Vol 3 (1) ◽  
pp. 17 ◽  
Author(s):  
Mohammad Bintang Pamuncak ◽  
Bayu Taufiq Possumah ◽  
Zairihan Abdul Hamid3
Keyword(s):  
Financial Reporting ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
Financial Report ◽  
Institutional Accountability ◽  
Preliminary Study

This study aims to evaluate the characteristics of zakat institution and proposes the adoption of International Financial Reporting Standard (IFRS) since it has developed and provides various product i.e zakat for productive purpose. This is important, considering that one of the measurement of accountability and transparency of an institution is providing brief financial report towards its beneficaries. Thereby, this study found that practically zakat institution is simillar to the SMEs, and there are 11 strandard of IFRS for SMEs that could be applicable to zakat institutionto achieve accountability and transparency. However, this study is preliminary study that proposes a conceptual frameworkwhich limited to the sharia compliance of IFRS that could be applicable to zakat Institution.Keywords: IFRS for SMEs, SMEs Criteria, Zakat InstitutionJEL Classification:

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