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PBR » Topics » Cumulative effect of change in accounting principle

This excerpt taken from the PBR 20-F filed Jun 30, 2005.

Cumulative effect of change in accounting principle

 

As of January 1, 2003, we generated a gain of U.S.$697 million (net of U.S.$359 million of taxes) resulting from the adoption of SFAS No. 143 – Accounting for Asset Retirement Obligations. The adjustment was due to the difference in the method of accruing end of life asset retirement obligations under SFAS 143, as compared with the method required by SFAS 19 – Financial Accounting and Reporting by Oil and Gas Producing Companies.

 

This excerpt taken from the PBR 6-K filed Jun 8, 2005.

Cumulative effect of change in accounting principle

 

As of January 1, 2003, we generated a gain of U.S.$ 697 million (net of U.S.$ 359 million of taxes) resulting from the adoption of SFAS No. 143 – Accounting for Asset Retirement Obligations. The adjustment was due to the difference in the method of accruing end of life asset retirement obligations under SFAS 143, as compared with the method required by SFAS 19 – Financial Accounting and Reporting by Oil and Gas Producing Companies.

 

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EXCERPTS ON THIS PAGE:

20-F
Jun 30, 2005
6-K
Jun 8, 2005

RELATED TOPICS for PBR:

"Cumulative effect of change in accounting principle" elsewhere:

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