Lease accounting in the energy sector: Drilling down into what the proposed rule changes mean for you webcast - October 24, 2013

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Webcast By Energy & mining

Webcast summary 

The proposal by US and international accounting standard setters to overhaul lease accounting likely will have far-reaching impacts for most companies. Watch this installment of the Energy executive webcast series to learn about how the new proposal will impact the energy industry.

Webcast details

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The proposal by US and international accounting standard setters to overhaul lease accounting likely will have far-reaching impacts for most companies, including those in the energy sector. Under the proposal, all leases with terms greater than one year would be recognized on a lessee's balance sheet, and the profit and loss recognition profile for many lessors and lessees would change. The proposal is not without controversy, and recent feedback given to standard setters suggests continued concerns about the proposal’s complexity and costs relative to its benefits.

Our discussion focuses on some of the key challenges that companies in the energy sector will face under the proposed standard, and highlight areas of concern raised by those both within and outside the energy sector. These include topics such as:

  • Whether drilling contracts are leases
  • How the proposal interacts with existing guidance on proportional consolidation and oil & gas accounting
  • The impact of the proposal on transportation and storage agreements
Watch to learn about how the new proposal on lease accounting will impact the energy industry.

About PwC's Energy Executive Webcast Series

PwC's energy executive webcast series provides practical guidance on recent energy issues and developments. Our webcasts, designed for energy executives, keep you informed of new and emerging issues impacting the energy industry and provide insight into recent trends and opportunities within the sector.

CPE credit:

Participation in the live webcast qualifies for 1 CPE credit. 

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