Entities with Oil and Gas Producing Activities Revenue Recognition Task Force 


    AICPA Revenue Recognition Task Forces are charged with developing revenue recognition implementation issues that will provide helpful hints and illustrative examples for how to apply the new Revenue Recognition Standard.

    Task Force Members:

    • Kenneth Miller, PricewaterhouseCoopers LLP (Co-Chair)
    • Jim Boessenecker, Chevron
    • James Bowie, Ernst & Young LLP
    • Rocky Horvath, BDO
    • Jamie McCoy, Eagle Energy Exploration LLC
    • Sandi Melocik, Exxonmobil
    • Brandon Sear, Grant Thornton
    • Jeff Slate, Ernst & Young LLP
    • Kevin Snyder, ConocoPhillips
    • John Vickers, Deloitte
    • Mark Zajac, KPMG LLP
    Staff Contact: Fred Gill, fgill@aicpa.org

    IDENTIFIED REVENUE RECOGNITION IMPLEMENTATION ISSUES

    Below will appear a list of potential revenue recognition implementation issues identified by the Entities with Oil and Gas Producing Activities Revenue Recognition Task Force. The list will be updated as the task force continues it discussions. Full revenue recognition implementation issues will be posted below for informal comments after review by the AICPA Financial Reporting Executive Committee (FinREC).


    FEEDBACK REQUESTED

    Draft Revenue Recognition Implementation Issues included for informal comment, when available, will be listed below.

    Respondents should submit any comments including the implementation issue number to revreccomments@aicpa.org by the dates noted below:

    Issue # Description of Implementation Issue Status
    1 Are Normal Purchase Normal Sales contracts in the scope of ASC 606 Submitted to AICPA RRWG
    2 Financial Statement Presentation of Non-customer Revenue Submitted to AICPA RRWG
    3 Usefulness of ASC 606 Disclosures for Oil and Gas Producing Entities Submitted to AICPA RRWG


    The Entities with Oil and Gas Producing Activities Revenue Recognition Task Force recommends the following AICPA products for current revenue recognition issues:



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