ASC

ASC 280-932

Extractive Activities—Oil and Gas

280 Segment Reporting

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In brief

IntermediatePresentationDisclosureIndustry-specificFinancial statement presentation

ASC 280-932 is a short "pointer" subtopic that addresses segment reporting as it applies to oil and gas producing activities. It contains no substantive requirements of its own: its scope mirrors that of the oil and gas Overall Subtopic (932-10-15), and it directs preparers to the industry-specific segment disclosure requirements located with the other oil and gas disclosures in 932-235-50-22 through 50-23.

Key points (4)
  • This Subtopic addresses segment reporting for oil and gas activities (280-932-05-1).
  • The scope and scope exceptions are the same as those of the oil and gas Overall Subtopic in Section 932-10-15 (280-932-15-1).
  • Industry-specific segment disclosure requirements for oil and gas are not set out here but are located with the rest of the industry's disclosure requirements in paragraphs 932-235-50-22 through 50-23 (280-932-50-1).
  • Because the substantive guidance resides in Topic 932, general segment reporting requirements in Topic 280 continue to apply to oil and gas entities alongside the industry-specific disclosures.

For students. Don't waste time looking for rules here—this subtopic exists only to route you to 932-235-50-22 through 50-23, where the oil and gas segment disclosures actually live. The common misunderstanding is thinking Topic 932 replaces Topic 280 for these entities; it supplements it.

segment reportingoil and gas producing activitiesindustry-specific disclosureextractive activitiescross-reference subtopicreportable segments

Machine-generated study aid for ASC 280-932. Check the source paragraphs below.

280-932-05Overview and Background

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280-932-05-1
This Subtopic addresses segment reporting for oil and gas activities.

280-932-15Scope and Scope Exceptions

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Overall Guidance

280-932-15-1
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 932-10-15.

280-932-50Disclosure

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280-932-50-1
Industry-specific segment disclosure requirements are included with the rest of the disclosure requirements specific to the oil and gas industry, see paragraphs
932-235-50-22 through 50-23
.

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