The Company has converted its
accounting convention from the full-cost method to the successful efforts method, providing increased transparency and comparability to peers.
The budget crude oil price is merely an
accounting convention used to calculate projected revenues.
Depreciation is added back because it is a non-cash item reliant upon on the amount of fixed assets that a firm has and can be different for various firms based on
accounting convention and level of fixed assets; it has no real bearing on the operational strength of a company.
Goodwill is an
accounting convention that represents the amount paid for an acquisition over and above the fair value of its net assets.
Lower interest rates increase the present value of pension liabilities, raising the apparent cost of pensions awarded, but this is an
accounting convention.
One of these differences involves the use of historical cost based accounting, a prime
accounting convention in the United States.
The Eugene-Springfield chapter of the Institute of Management Accountants features "Eugene Accounting Humor" as the central point of its Web page, including how you identify a Eugene CPA at an
accounting convention.
Also, generally, fiscal years run from 1/1 to 12/31 by standard
accounting convention.
Under UK
accounting convention, companies have wide discretion in deciding when to recognise revenue in their accounts.
To limit our ambition to a narrow
accounting convention called the "non-Social Security surplus" as currently measured is to declare defeat before we've even begun to make the case for why we should move forward.
The new
accounting convention was supposed to help readers of mortgage company financial statements such as investment bankers, security analysts and warehouse lenders.
A Scottish Office spokesman said: "This is required as an
accounting convention.
