تلتزم الشركة دائمًا بمعدات سحق التعدين ومعدات صنع الرمل ومعدات الطحن الصناعية، وتوفير حلول عالية الجودة للرمل والحصى ومجموعات كاملة من المعدات للمشاريع الهندسية واسعة النطاق مثل الطرق السريعة والسكك الحديدية والمياه والكهرباء، إلخ. ، وتسعى جاهدة لممارسة التصنيع الدقيق المحلي والتخطيط العلمي العالمي، مع اعتبار آسيا المنطقة النائية والعملاء المشعين حول العالم. بعد أكثر من 30 عامًا من التطوير، نجحت العديد من منتجات الشركة في اجتياز العديد من شهادات الجودة الدولية مثل الشهادة الدولية ISO9001:2015، وشهادة الاتحاد الأوروبي CE، وشهادة GOST الروسية. بعد ذلك، في السعي لتحقيق التميز، سنستمر في استخدام منتجات عالية الجودة والتكنولوجيا الاحترافية والخدمات المخلصة لمساعدة العملاء على خلق قيمة أكبر، واستخدام الإجراءات العملية لمواصلة تعزيز البناء البيئي للحضارة الإنسانية.
·Depreciation Provisions and Reserves 231 Depreciation and other Similar Terms There are some terms like depletion and amortisation which are also used in connection with depreciation This has been due to the similar treatment given to them in accounting on the basis of similarity of their outcome as they represent
·WHAT ARE DISTRIBUTABLE RESERVES DO FAIR VALUE GAINS AND LOSSES AFFECT DISTRIBUTABLE RESERVES • In a transaction an accounting profit is realised if there is qualifying consideration cash a receivable in cash or an asset readily convertible to cash • In a remeasurement to fair value an accounting profit is realised if the asset
·Conclusions The update of ultimate reserve and production data and the revision of calculation procedures of ADPs and category totals have resulted in an improved up to date and more complete
The depletion deduction is based on the assumption that for certain businesses accounting profits are greater than real profits Consider the following example Company ABC runs a mining operation that uses heavy machinery capital and skilled engineers labor to extract shale oil from an oil well land
·A SIMPLE AND ACCURATE METHOD FOR ORE RESERVE ESTIMATION AND MINERAL RESOURCE DEPLETION IN CAVING MINES 255 estimation process at these mines Details of how metal contained in the diluting material is tracked and reported in Ore Reserve is also limited Ore Reserve estimation techniques for caving mines as
·The main focus of attention from an accounting perspective is proved reserves which are those oil and gas reserves that can be reasonably estimated to be commercially recoverable from known reservoirs In other words you know it s there and it s cost effective to extract it at current market prices Depletion and Amortization
The depletion base for oil reserves includes all the costs incurred to put the asset into use Types of costs include acquisition exploration development and restoration costs journal entry A journal entry in accounting is a logging of transactions into accounting journal items The journal entry can consist of several items each
Depletion expense is imposed on non renewable resources Depreciation on the other hand is charged on tangible assets Examples of assets where depletion is charged include coal oil and natural gas Examples of assets where depreciation is charged includes plant and machinery building and vehicles Accounting Treatment of Depletion Expenses
·Accounting Entries for Revaluation If you decide to revalue Non Current Assets Fixed Assets you have to give a series of accounting adjustments the IAS 16 permits a transfer to be made of of an amount equal to the excess depreciation from the revaluation reserve to retained earnings Journal Entry Revaluation Reserve Dr
·For instance depletion deductions are available for oil and gas reserves as well as mining Timber is only eligible for cost depletion a deduction based on the cost basis of the timber Other natural resources may deduct percentage depletion a percentage of the gross revenues from extracting and selling the natural resource
·Explore the concept of Depletion in Natural Resource Accounting from cost allocation to controversies in oil and gas industry As a substitute the SEC argued in favor of a yet to be developed method reserve recognition accounting RRA which it believed would provide more useful information Under RRA as soon as a company discovers oil
Accounting and journal entry The legal owner of the asset may require the lessee/tenant to reinstate the leased space to its original state when the lease expires and the tenant decided not to renew the lease agreement Then a provision for reinstatement cost/restoration cost needs to be recorded as it is an existing obligation of the
The previous video gave us a demonstration of the accounting process for depletion but we will review it here Computing periodic depletion cost To compute depletion charges companies usually use the units of production method They divide total cost by the estimated number of units—tons barrels or board feet—that can be economically extracted from the property
We do not record any expense as the company already estimate and record in the prior month This entry deducts both inventory and inventory reserve so it is not changing the inventory balance on the balance sheet After this entry Inventory balance equal to 480 000 500 000 2 000 less 3 000 5 000 2 000 which is 450 000
·Journal of Accounting and Financial Management ISSN 2504 8856 Vol 2 2016 IIARD Page International Institute of Academic Research and Development 1 Accounting for Depreciation Depletion and Amortization in the Oil and Gas Concepts Issues and Challenges MGBAME Department of Accounting
Accounting Standards Codification ASC Topic 930 "Extractive Activities Mining " provides guidance on accounting for depletion expense in the mining industry Depletion is a method of allocating the cost of a natural resource such as minerals or oil over its expected useful life or production period Proper accounting for depletion expense is essential to accurately reflect the
1 ·Even though single entry bookkeeping is simpler the most common form of bookkeeping today is double entry That s because single entry gives you a highly limited view of your business s actual financial status We ll be using double entry examples to explain how journal entries work Debits and credits in the context of double entry
·Companies likely agree that asset retirement obligations can be complex to account for However by following key accounting principles companies can properly measure and report these liabilities improving financial statement In this article we will define asset retirement obligations overview the accounting standard discuss recognition and
·Journal of Accounting and Financial Management ISSN 2504 8856 Vol 2 2016 IIARD Page International Institute of Academic Research and Development 1 Accounting for Depreciation Depletion and Amortization in the Oil and Gas Concepts Issues and Challenges MGBAME Department of Accounting
A recent quarry expansion cost $2 million and added an estimated 80 000 tons of reserves Year Volume 1000 Tons Price $ per Ton 1 10 75 2 9 70 3 15 70 4 10 70 5 18 85 Estimate the cost depletion allowance for the next 5 years using the projections made by the owner John Ederly