Briefly indicate why this disclosure can be significant

Assignment Help Finance Basics

Reference no: EM131290407

1. Oil and gas companies must disclose quantity estimates for proved oil and gas reserves and the major factors causing changes in these resource estimates. Briefly indicate why this disclosure can be significant.

2. For oil and gas companies, there is the potential for a significant difference between the reported income and cash flows from operations. Comment.

Reference no: EM131290407

Questions Cloud

When deciding on possible global markets to enter : What factors do companies consider when deciding on possible global markets to enter?- Are they consistently higher or lower?

Company has bonds outstanding with a par value : A company has bonds outstanding with a par value of $100,000. The unamortized premium on these bonds is $2,700. If the company retired these bonds at a call price of 99, the gain or loss on this retirement is:

Discuss why each example is beneficial for language develop : Imagine that you had the opportunity to create the "perfect" environment for learning language (language development as a whole). What would this environment look like? Give at least 5 examples from the lecture/text . Discuss why each example i..

Identify the tax issues related to williams decision : William, a high school teacher, earns about $50,000 each year. In December 2016, he won $1 million in the state lottery. William plans to donate $100,000 to his church. He has asked you, his tax advisor, whether he should donate the $100,000 in 2016 ..

Briefly indicate why this disclosure can be significant : For oil and gas companies, there is the potential for a significant difference between the reported income and cash flows from operations. Comment.

Lifo method-what is the value of inventory on hand : Using the LIFO method: beginning inventory on August 1 has 2 items valued at $100 each. On August 8, three items were purchased for $250 per unit. On August 10, two units were sold. On August 20, two units at $300 each were purchased. What is the val..

Identify types of strategies which is important : Identify types of strategies, which is important, important strategic management matrices recommend various types of strategies depending on various internal and external factors.

Show entry made to close income summary to partner capital : The Roe, Soh, and Tow Partnership earned $150,000 of net income for the year. The partnership agreement states the following regarding the allocation of net income: Show the entry made to close income summary to partner capital.

Paragraphs highlighting some key points : Summary: One to two paragraphs highlighting some key points from the article. Include the title of the article and a proper citation of material. Remember this is a summary; stay on point. The summary should be no more than a third of your conten..

User Account

All Pages