Abstract

MORA ALVAREZ, José Manuel; MARTINEZ PAREDES, Olga Lucía; PARDO SOTO, Martha Verónica  and  CANTILLO FLOREZ, Jeison. Accounting Representation Crisis in Oil Industry: Assembling Heteroglossias of Power Towards the Ethical Act. Rev. Cient. Gen. José María Córdova [online]. 2015, vol.13, n.15, pp.271-288. ISSN 1900-6586.

In this article is intended to argue that a crisis in accounting representation in the oil industry is evident, due to the following causes: the accounting representation can be influenced by ideologies of power, both obeying the logic of the market, and evidencing an asymmetrical relationship between principal and agent, in the context of agency theory, and finally the protection of the particular interest to the detriment of the public interest. The article locates the crisis of accounting representation in the current context of the social, economic and environmental crises. We conclude that, in the exploration and evaluation of the oil and gas industry, the management may choose one of two methods, namely, successful efforts and total costs. The current problem is that the choice of the accounting costs recognition method in the exploration for and evaluation of the gas and oil industry phases is influenced by particular interests of the administration, to the detriment of the public interest regarding financial reporting.

Keywords : accounting; crisis in accounting representation; drilling costs; ethical act; exploitation costs; heteroglossias of power; oil industry.

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