01 May 2020

Amendments to IAS 16 - Property, plant and equipment

Amendments to IAS 16, 'Property, plant and equipment', prohibit a company from deducting from the cost of property, plant and equipment amounts received from selling items produced while the company is preparing the asset for its intended use. Instead, a company will recognise such sales proceeds and related cost in profit or loss.

03 April 2020

An Oil and Gas Industry Focus on COVID-19 accounting considerations

In this Spotlight we provide our insights into the top nine issues that oil- and gas-related entities might face. While this Spotlight focuses on issues that are likely to be the most frequently encountered, many others are certain to arise. As the situation continues to evolve, so too will the consequential accounting issues. For these reasons, the following is not an exhaustive list of all relevant accounting considerations.

03 April 2020

A Utility Industry Focus on COVID-19 accounting considerations

In this Spotlight we provide our insights into the top issues that utility entities might face. While this Spotlight focuses on issues that are likely to be the most frequently encountered, many others are certain to arise. As the situation continues to evolve, so too will the consequential accounting issues. For these reasons, the following is not an exhaustive list of all relevant accounting considerations.

03 April 2020

A Mining Industry Focus on COVID-19 accounting consideration

In this Spotlight we provide our insights into the top 10 issues that mining-related entities might face. While this Spotlight focuses on issues that are likely to be the most frequently encountered, many others are certain to arise. As the situation continues to evolve, so too will the consequential accounting issues. For these reasons, the following is not an exhaustive list of all relevant accounting considerations.

28 February 2020

The new definition of a business promises to impact the oil and gas industry

The IASB’s new guidance changes the definition of a business and, under IFRS, it will likely result in more transactions being recorded as asset acquisitions. The new definition might impact some transactions in the oil and gas industry, but the impact is likely to be less than in other industries.

21 February 2019

Financial reporting in the power and utilities industry

This publication (pdf, 1.39MB) is part of a series that takes a sector-by-sector look at IFRS in practice. In this edition, we look at the issues faced by power and utilities companies. We draw on our considerable experience of helping power and util

19 July 2017

Financial reporting in the oil and gas industry

This publication focuses on areas of financial reporting under IFRS that are of most interest to companies in the oil and gas industry. The issues are addressed following the oil and gas value chain: exploration and development, production and sales

10 March 2015

Alternative financing for extractive industries: PwC In depth INT2015-04

Globally, the extractive industries (oil & gas, mining and metals) have suffered a lack of investor confidence, multi-billion dollar write downs, poor returns, volatile commodity prices and escalating operating costs. Compounding this challenge, the

31 January 2013

Financial reporting in the mining industry

One of the major challenges of any reporting framework is how best to implement it in the context of a specific company or industry. IFRS is a principles based framework and short on industry guidance. PwC looks at how IFRS is applied in practice by