NON-RENEWABLE NATURAL RESOURCES: ACCOUNTING PROCEDURE OF TWO BRAZILIAN COMPANIES

Resumen

The discovery of oil reserves or mine is an important event for companies that exploit non-renewable resources (RNNR). However, this fact that creates value is not explicit in profit at the time of discovery, but later, when the reserves are producing. Moreover, the record of RNNR, specifically oil and mining, have certain peculiarities, not only for the purpose of valuation of assets, as to exhaustion and recognition of the costs of abandonment (dismantlement, restoration, and abandonment costs or DR & A costs). Thus, this study presents the accounting practices used by the Brazilian companies that operate (RNNR), how to recognize reserves, accounting model of operating costs, depletion and abandonment. To achieve this goal, we performed an exploratory study was divided into three stages. In the first stage, it was an investigation into the theoretical and normative beliefs supporting the accounting practices related to exploration (RNNR). On Monday, rose at the site of the CVM, the companies that operate such activity and are required to adopt SFAS 143. In the third step, we analyzed the financial statements for 2004 and 2005, business Companhia Vale do Rio Doce and Petrobras, with the purpose of identifying the accounting procedures adopted for RNNR. We conclude that these companies are adopting accounting practices in accordance with SFAS 143.