The full-cost method is the accounting method in oil and gas that allows all costs to be capitalized as assets and then be expensed in the future as oil and gas are extracted.
This refers to the accounting method that is used to determine the complete end-to-end cost of producing products or services.
This cost accounting method is mostly used in the oil and gas industry. and it works by considering all property acquisition, exploration, and development costs for aggregation and capitalization into a country-wide cost pool and such capitalization occurs whether or not a well is deemed successful
Therefore, the The full-cost method is the accounting method in oil and gas industry.
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