Oil And Gas Accounting In Upstream Sector In Nigeria: Practice, Challenges And Options: A Study Of Shell Nigeria Plc
ABSTRACT
Oil and gas industry play an important role in the Nigerian
economy through revenue generation to the government, employment generation and
being the major contributor to the growth of the Gross Domestic Product
(Karikpo, 2010). Oil and Gas Companies, like other entities, are required to
prepare and present their financial statements in accordance with Generally
Accepted Accounting Practices and/or International Accounting Standards. Such
financials are expected to be relevant, reliable and faithfully representing
the financial position and performance of the affairs of the reporting entity
at any particular point in time. Financial information is crucial for the
economy and the quality of financial statements depends on the accounting
standards on which they are based. Financial statement forms the basis on which
economic and financial agents, as well as authorities take their decisions
(Obara & Nangih, 2017). Accounting standards have a direct impact on
supervisory work of DPR and National Assembly's oversight functions given that
petroleum industry operator's account provides detailed overview of the
liquidity, profitability and the financial status on the activity of the
industry as a whole.
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MICHAEL, U (2021). Oil And Gas Accounting In Upstream Sector In Nigeria: Practice, Challenges And Options: A Study Of Shell Nigeria Plc. Repository.mouau.edu.ng: Retrieved May 18, 2024, from https://repository.mouau.edu.ng/work/view/oil-and-gas-accounting-in-upstream-sector-in-nigeria-practice-challenges-and-options-a-study-of-shell-nigeria-plc-7-2
UNIVERSITY, MICHAEL. "Oil And Gas Accounting In Upstream Sector In Nigeria: Practice, Challenges And Options: A Study Of Shell Nigeria Plc" Repository.mouau.edu.ng. Repository.mouau.edu.ng, 23 Jul. 2021, https://repository.mouau.edu.ng/work/view/oil-and-gas-accounting-in-upstream-sector-in-nigeria-practice-challenges-and-options-a-study-of-shell-nigeria-plc-7-2. Accessed 18 May. 2024.
UNIVERSITY, MICHAEL. "Oil And Gas Accounting In Upstream Sector In Nigeria: Practice, Challenges And Options: A Study Of Shell Nigeria Plc". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 23 Jul. 2021. Web. 18 May. 2024. < https://repository.mouau.edu.ng/work/view/oil-and-gas-accounting-in-upstream-sector-in-nigeria-practice-challenges-and-options-a-study-of-shell-nigeria-plc-7-2 >.
UNIVERSITY, MICHAEL. "Oil And Gas Accounting In Upstream Sector In Nigeria: Practice, Challenges And Options: A Study Of Shell Nigeria Plc" Repository.mouau.edu.ng (2021). Accessed 18 May. 2024. https://repository.mouau.edu.ng/work/view/oil-and-gas-accounting-in-upstream-sector-in-nigeria-practice-challenges-and-options-a-study-of-shell-nigeria-plc-7-2