# ASC 235-932-10: Notes to Financial Statements — Extractive Activities—Oil and Gas — 10 Objectives

Source: FASB Accounting Standards Codification, Basic View

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## ASC 235-932-10: 10 Objectives

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##### [235-932-10-1](https://asc.understandingaccounting.org/asc/235/932/#235-932-10-1)

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This Subtopic prescribes disclosures related to an entity's oil- and gas-producing activities that are considered necessary for fair presentation of the entity's financial position, results of operations, and changes in financial position in conformity with generally accepted accounting principles (GAAP). Those disclosures are only part of the information that may be needed for investment, regulatory, or national economic planning and energy policy decisions.