{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/932/10/#sec-55-implementation-guidance-and-illustrations","source":"FASB Accounting Standards Codification, Basic View","usage":"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.","topic":"932","topic_title":"Extractive Activities—Oil and Gas","subtopic":"932-10","subtopic_title":"Overall","section":{"number":"S55","label":"SEC 55 Implementation Guidance and Illustrations","anchor":"sec-55-implementation-guidance-and-illustrations","is_sec":true,"groups":[{"block":null,"heading":"Accounting Issues in Oil and Gas Exchange Offers","paragraphs":[{"citation":"932-10-S55-1","para":"S55-1","html":"See paragraph 932-10-S99-2, SAB Topic 2.D, Questions 1 through 3, for SEC Staff views on accounting issues arising in oil and gas exchange offers. See paragraph 932-10-S99-3, SAB Topic 12.C, for SEC Staff views on methods of accounting by oil and gas producers. See paragraph 932-10-S99-3, SAB Topic 12.C.1, for SEC Staff views on changing methods of accounting by oil and gas producers who are first-time registrants. See paragraph 932-10-S99-3, SAB Topic 12.C.2, for SEC Staff views on applying consistent methods of oil and gas accounting within a consolidated entity.