# ASC 280-932: Segment Reporting — Extractive Activities—Oil and Gas

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/280/932/)

Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.

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## ASC 280-932: Segment Reporting — Extractive Activities—Oil and Gas

### Machine-generated study aids

```json
{
  "summary": "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": [
    "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."
  ],
  "categories": [
    "Presentation",
    "Disclosure",
    "Industry-specific",
    "Financial statement presentation"
  ],
  "audience_level": "intermediate",
  "student_note": "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.",
  "related_topics": [
    "280-10",
    "932-10",
    "932-235",
    "932-360"
  ],
  "key_concepts": [
    "segment reporting",
    "oil and gas producing activities",
    "industry-specific disclosure",
    "extractive activities",
    "cross-reference subtopic",
    "reportable segments"
  ]
}
```

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## ASC 280-932-05: 05 Overview and Background

[Read section](https://asc.understandingaccounting.org/asc/280/932/#05-overview-and-background)

SEC content: no

##### [280-932-05-1](https://asc.understandingaccounting.org/asc/280/932/#280-932-05-1)

Pending content: no

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This Subtopic addresses segment reporting for oil and gas activities.

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## ASC 280-932-15: 15 Scope and Scope Exceptions

[Read section](https://asc.understandingaccounting.org/asc/280/932/#15-scope-and-scope-exceptions)

SEC content: no

#### Overall Guidance

##### [280-932-15-1](https://asc.understandingaccounting.org/asc/280/932/#280-932-15-1)

Pending content: no

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

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## ASC 280-932-50: 50 Disclosure

[Read section](https://asc.understandingaccounting.org/asc/280/932/#50-disclosure)

SEC content: no

##### [280-932-50-1](https://asc.understandingaccounting.org/asc/280/932/#280-932-50-1)

Pending content: no

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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](https://asc.understandingaccounting.org/asc/235/932/#235-932-50-22)

.