Since
the oil asset account is denominated in CAD and not in barrels, we must separately keep an inventory of the actual amount of oil owned, and also of the current market price.
Not exact matches
TULSA, Okla. --(BUSINESS WIRE)--
Oil and NGL sales
accounted for 96 percent of WPX Energy's (NYSE: WPX) first - quarter 2018 total product revenue of $ 407 million following the divestitures of its San Juan Basin
assets, concluding with the sale of its Gallup holdings in March.
Behind Germany and ahead of some of the
oil producers, it runs the largest current
account surplus in the world, which means that it is exporting its excess savings in a world that has nowhere to put the money, and so the world must respond either with speculative
asset bubbles, unproductive investment, debt - fueled consumption binges or unemployment.
- Administering the New York State and Local Retirement System for public employees, with more than one million members, retirees and beneficiaries and more than 3,000 employers; - Acting as sole trustee of the $ 129 billion Common Retirement Fund, one of the largest institutional investors in the world; - Maintaining the State's
accounting system and administering the State's $ 12.6 billion payroll; - Issuing reports on State finances; - Managing the State's
assets and issuing debt; - Reviewing State contracts and payments before they are issued; - Conducting audits of State agencies and public benefit corporations; - Overseeing the fiscal affairs of local governments, including New York City; - Overseeing the Justice Court Fund and the
Oil Spill Fund Acting as custodian of more than $ 9 billion in abandoned property and restoring unclaimed funds to their rightful owners;
Our «
oil asset»
account is kept in CAD.
Do current
accounting rules capture the value and any potential impairment of
assets in a consistent and useful manner, (eg compare mining vs
oil; contrast IFRS and US GAAP)?
Issue involved claimed failure to disclose value of
oil and gas reserves in North Sea and elsewhere,
accounting treatment of various
assets, and proper
accounting for
asset transfers.