Accounting standards used as basis for preparation of financial statements by shale gas producers in USA and Poland
The aim of this article is analysis and comparison of the standards used for preparation of financial statementsby enterprises looking for and extracting shale gas in Poland and in the USA. The author reviewsthe different accounting regulations underlying financial reporting of companies operating i...
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| Format: | Article |
| Language: | English |
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Rada Naukowa SKwP
2015-12-01
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| Series: | Zeszyty Teoretyczne Rachunkowości |
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| Online Access: | http://ztr.skwp.pl/gicid/01.3001.0009.2939 |
| Summary: | The aim of this article is analysis and comparison of the standards used for preparation of financial statementsby enterprises looking for and extracting shale gas in Poland and in the USA. The author reviewsthe different accounting regulations underlying financial reporting of companies operating in this field.Nowadays, globalization and constant development of financial markets cause intensified expectations ofshareholders regarding the attributes of financial statements. The author points out the high level of specializationand comprehensiveness of American regulations. In contrast, international accounting standardsaddress only the initial phase of the process of alternative hydrocarbons extraction, which results ina lack of financial reports’ consistency and decline of investors’ interest.
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| ISSN: | 1641-4381 2391-677X |