# ASC 350-932-50: Intangibles—Goodwill and Other — Extractive Activities—Oil and Gas — 50 Disclosure

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/350/932/#50-disclosure)

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## ASC 350-932-50: 50 Disclosure

[Read section](https://asc.understandingaccounting.org/asc/350/932/#50-disclosure)

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##### [350-932-50-1](https://asc.understandingaccounting.org/asc/350/932/#350-932-50-1)

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The scope exception in paragraph [350-10-15-4(b)](https://asc.understandingaccounting.org/asc/350/10/#350-10-15-4) includes the balance sheet classification and disclosures for drilling and mineral rights of oil- and gas-producing entities that are within the scope of this Topic. The accounting framework for oil- and gas-producing entities is based on the level of established reserves—not whether an asset is tangible or intangible. Accordingly, the scope exception extends to its disclosure provisions for drilling and mineral rights of oil- and gas-producing entities. However, an entity is not precluded from providing information about its drilling and mineral rights in addition to the information required by Section 932-235-50.

##### [350-932-50-2](https://asc.understandingaccounting.org/asc/350/932/#350-932-50-2)

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Entities should not analogize this guidance to other items listed in paragraph [350-10-15-4](https://asc.understandingaccounting.org/asc/350/10/#350-10-15-4).