A proposed model for accounting for assets fixed in petroleum licensing contracts under the requirements of International Financial Reporting Standards and the unified accounting system: An applied study in the Iraqi Central Oil Company

Abstract

The aim of the research is to suggest a model for accounting About the assets fixed in petroleum licensing contracts, and how it can be applied to the extractive sectors, and the research sample company in particular in order to apply the financial reporting standards(IFRSs)In the oil extraction sector, and to address weaknesses and defects in them, in addition to improving financial reporting, And the to Incompatibility with the requirements of the Iraqi unified accounting system on the one hand, and with the requirements of (IFRSs) on the other hand. And for the importance of What these contracts constitute from an economic point of view, and the importance of providing appropriate and honest information to the petroleum decision-maker.