Exposure Draft of the Guidance Note on Accounting for Oil and Gas Producing Activities (for entities to whom Ind AS is applicable) (Comments to be received by August 31, 2016)

As the members may kindly be aware that Indian Accounting Standards (Ind AS) are applicable from April 1, 2016 to certain entities covered under the roadmap issued by Ministry of Corporate Affairs (MCA). The Research Committee has decided to revise the Guidance Note on Accounting for Oil and Gas Producing Activities for the entities to whom Ind AS is applicable for the guidance of members and others. Accordingly, an Exposure Draft of the Guidance Note Accounting for Oil and Gas Producing Activities (for entities to whom Ind AS is applicable) is issued with the aim to provide an opportunity to the various stakeholders to send their comments for the consideration of the Committee. The text of the draft Guidance Note is available at the following link: http://resource.cdn.icai.org/42925research32660.pdf.

We request you to kindly send your views and suggestions on the Exposure Draft on or before August 31, 2016. Comments should be submitted using one of the following methods:

  1. Email:
Comments can be sent to: research@icai.in
  1. Postal:
Secretary, Research Committee, Technical Directorate
The Institute of Chartered Accountants of India,
ICAI Bhawan, Post Box No. 7100,
Indraprastha Marg,
New Delhi 110 002

Further clarifications on this exposure draft may be sought by e-mail to research@icai.in

With kind regards,

(CA. Deepali Garg)
Secretary, Research Committee
E-mail: research@icai.in

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