United States

IFRS Revenue Accounting by Oil and Gas Companies

Dec 22, 2014
From the Financial Reporting View and the IFRS Institute

KPMG’s ISG and the KPMG Global Energy Institute recently published Accounting for Revenue Is Changing: Impact on Oil and Gas Companies, which describes the potential effects of IFRS 15, Revenue from Contracts with Customers, on oil and gas companies and actions to consider to address those issues. Some of the issues discussed include collaborative arrangements, oil and gas lifting imbalances, and production- and sales-based royalties.

Read Accounting for Revenue Is Changing: Impact on Oil and Gas Companies