Energy Insights – Going Concern Debt Issuance Costs

The Financial Accounting Standards Board (FASB) issued Accounting Standards Updates (ASU) that are now effective for financial reporting applicable to the fiscal year ending December 31, 2016 (for those companies with fiscal years beginning after December 31, 2015).

Energy companies, in particular, should consider relating the new standards to their financial reporting. The updates affect how oil and gas companies address and consider going concern disclosure needs and classification of debt issuance costs in financial statements.

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