Last edited by Nigal
Sunday, August 9, 2020 | History

3 edition of Depreciation practices of natural gas companies, 1969. found in the catalog.

Depreciation practices of natural gas companies, 1969.

United States. Federal Power Commission. Office of Accounting and Finance.

Depreciation practices of natural gas companies, 1969.

Classes A and B companies (excludes independent producers of natural gas)

by United States. Federal Power Commission. Office of Accounting and Finance.

  • 375 Want to read
  • 32 Currently reading

Published by The Commission, For sale by the Supt. of Docs., U.S. Govt. Print. Off. in Washington .
Written in English

    Subjects:
  • Gas companies -- United States -- Accounting,
  • Depreciation

  • Edition Notes

    Chiefly tables.

    Statement[prepared by the Federal Power Commission, Office of Accounting and Finance].
    SeriesFPC S-215, S (United States. Federal Power Commission) -- 215.
    The Physical Object
    Pagination20 p. ;
    Number of Pages20
    ID Numbers
    Open LibraryOL17621039M
    OCLC/WorldCa1300431

    EIA uses Form EIA, Weekly Natural Gas Storage Report, to collect data on end-of-week working gas in storage at the company and regional level from a sample of all underground natural gas storage operators. The regions used for weekly reporting were formally the East, West and Producing regions.   GAAP depreciation is a way of spreading the expense of an asset over the number of years that the asset will be in service for the business. Four methods of depreciation are permitted under GAAP: the straight line method, declining balance, units of production and sum of years' digits.

    During the era of regulated utilities (both electricity and natural gas), the value of a capital asset was defined by the remaining book value B(t), which if you think about it makes perfect sense. The utility earns a fixed rate of profit on any capital asset that it constructs, and once an asset is fully depreciated then it can no longer. 14 Q. Is the Company's claim for accrued depreciation in the current proceeding made on the same basis as has been used for over thirty years? 16 A. Yes. The current claim for accrued depreciation is the book reserve brought 17 forward from the book reserve approved by the Commission in the last proceeding. Q.

      There are some terminologies that you need to remember in understanding the different types of depreciation methods. a. Adjusted Cost Basis is the asset's original cost basis used to compute depreciation deductions adjusted by allowable increases or decreases.. b. First Cost (FC) or Cost Basis is the unadjusted cost basis of an asset. It is the initial cost of acquiring an asset. C. Consumers Energy Company’s request to modify its current accounting practices to record all auction salvage proceeds in account # – structures & improvements, allocated annually between electric, gas, and common plant is approved. D. Consumers Energy Company shall file its next natural gas depreciation case no later.


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Depreciation practices of natural gas companies, 1969 by United States. Federal Power Commission. Office of Accounting and Finance. Download PDF EPUB FB2

Get this from a library. Depreciation practices of natural gas companies, Classes A and B companies (excludes independent producers of Depreciation practices of natural gas companies gas).

[United States. Federal Power Commission. Office of Accounting and Finance.]. Updated IRMAlaska Pipeline Depreciation Treatment of Natural Gas Property, Companies in the natural gas marketing and transportation sectors may acquire gas for resale.

A common practice in the acquisition of oil and gas properties prior to passage of the Tax Reform Act was to use a production payment in so-called. Get this from a library. Depreciation practices of natural gas companies, classes A and B companies (excludes independent producers of natural gas.

Depreciation, Depletion, and Amortization (DD&A) is an accounting technique associated with the acquisition, exploration, and development of new oil and natural gas reserves.

book value of O&G assets against the SEC value of reserves (market value proxy) that all O&G producing companies must disclose in their footnotes (more on this in the later section). •If SEC value is lower than the capitalized costs, a write-down is required. •This is why companies using the FC method utilize large cost centers.

• Peoples Natural Gas and Delta Natural Gas — On SeptemPeoples Natural Gas (a subsidiary of PNG Companies LLC) announced that it had completed the acquisition of Delta Natural Gas for $ million, at $ per share.

Delta Natural Gas. This study examined the effect of financial accounting practices employed by Oil and Gas Companies on their financial performance. Objectives of The Study The purpose of this study is to examine the degree of impact of accounting practices on the profitability of oil and gas companies in Nigeria.

FERC vs. GAAP Accounting for Natural Gas Pipelines Return Brown, Williams, Moorhead & Quinn, Inc. has prepared a report comparing the Federal Energy Regulatory Commission's (FERC) financial accounting and related regulations for natural gas companies with Generally Accepted Accounting Principles (GAAP) for such entities.

Changing utility practices, market, technology, and regulatory forces can also alter even the best projections. To accommodate these complexities, depreciation models have been developed combining both analysis and professional judgment to produce rational and supportable depreciation.

The rate of depreciation on oil and gas pipelines in the books of accounts has been changed to per cent from Earlier, depreciation rate for calculating pipeline tariffs was per cent. The new rate will be applicable on a retrospective basis from April 1, WEST TEXAS GAS DEPRECIATION RATE STUDY EXECUTIVE SUMMARY West Texas Gas (“WTG” or “Company ”) engaged Alliance Consulting Group to conduct a depreciation study of the Company’s Gas Distribution and General utility plant depreciable assets as of Decem This study recommends implementation of the group accounting method.

{'United States Code': [{'Title': '15', 'Section': '', 'headtext': ' Regulation of natural gas companies', 'cleanpath': '/uscode/text/15/'}, {'Title': ' Oil and Natural Gas Production. Oil and Natural Gas Reserves. At the end ofthe U.S.

Securities and Exchange Commission (SEC) adopted a rule that made substantial changes in the ways oil (crude oil and natural gas liquids) and natural gas reserves are accounted for in.

Oil and gas rules say that you generally capitalize the costs to acquire, explore and develop oil and gas producing properties.

These costs are usually referred to as capitalized leasehold costs. Depletion is how those capitalized costs are claimed as a deduction, when the oil or gas well begins production, and is calculated and maintained on 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 oil and gas companies.

This publication identifies the issues that are unique to the oil and gas companies industry and includes a number of real life examples to demonstrate how companies are.

The primary issue in these cases concerns the validity under the Natural Gas Act of52 Stat.15 U.S.C. § et seq., 15 U.S.C.A. § et seq., of a rate order issued by the Federal Power Commission reducing the rates chargeable by Hope Natural Gas Co., 44 P.U.R.,N.S., 1.

On a petition for review of the order made pursuant to § 19(b) of the Act, the Circuit Court of Appeals. Commission-regulated natural gas and electric companies, rural electric cooperatives and alternative electric suppliers from electric or natural gas service shut-off and high utility payments between November 1 and March Persons qualify for the plan if they.

The saga of the depreciation of pipeline gathering systems continues with the IRS winning the latest round in Saginaw Bay Pipeline Co The primary issue in this controversy is whether pipeline-gathering systems should be depreciated over 7 or 15 years under the Modified Accelerated Cost Recovery System (MACRS).

Simplified Example of 1st-Year Tax Deduction for Oil & Gas: The Intangible Drilling Cost (IDC) deductions and the depreciation of tangible equipment on a typical oil or natural gas well allow a large income tax deduction of the investment (usually 65% to 80%) for the first year of activity.

EBITDAX is a valuation metric used specifically for oil and gas companies, also known as exploration and production (E&P) companies. It measures a company’s ability to. Introduction to Depreciation For Public Utilities and Other Industries Page Content The purpose of this book is to give the reader a basic understanding of these fixed asset and depreciation concepts, and a glimpse into how the many questions surrounding these topics can be answered.companies to prepare their financial statements in accordance with IFRS.

National standards in Depreciation of production and downstream assets 12 Product valuation issues 14 practices adopted by the oil and gas industry under International Financial Reporting Standards.A company indicates in its 10K that it converted oil and gas to a common unit of measure by dividing its natural gas reserves and production by a factor of That company is using the _____ approach to compute equivalent units.