About The Methodology of Cost Accounting for the Implementation of Geological Exploration

DOI : http://dx.doi.org/10.13005/bbra/1468

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The analysis of existing methods of cost accounting in the implementation of geological exploration has been carried out in the article, their advantages and disadvantages have been revealed. The conclusion, that the successful efforts method with the application of account 97 “Deferrals” is the most acceptable one in the Russian conditions, has been reasoned. The different types of contracts, concluded with a contractor, are considered, at a contract way of carrying out the geological exploration. The arguments in favour of the contract with a rate for depth are adduced.

Geological exploration; Accounting methods; Costs; Capitalization of costs; Well