established reserves

Assets1

1. 350-932Extractive Activities—Oil and Gas350 Intangibles—Goodwill and Other

   This Subtopic carves oil- and gas-producing entities out of the general intangible asset balance sheet classification and disclosure rules for their drilling and mineral rights. Because the oil and gas accounting framework turns on the level of established reserves rather than on whether an asset is tangible or intangible, the scope exception in 350-10-15-4(b) extends to the disclosure provisions, with disclosure instead governed by Section 932-235-50. Entities may voluntarily provide additional information about drilling and mineral rights but may not analogize this exception to other items in 350-10-15-4.