Fracking and Reconciliation: Difference between pages

From ACT Wiki
(Difference between pages)
Jump to navigationJump to search
imported>Doug Williamson
(Remove surplus links.)
 
imported>Administrator
(CSV import)
 
Line 1: Line 1:
''Energy - sustainability - fossil fuels - oil and gas''.
1. ''Accounting''.
A quantified explanation of the differences between two related amounts.
For example, an accounting reconciliation of reported operating profit to net operating cash flows.  This statement explains why the figure for accounting profit differs from the net operating cash flows for the same period.  Each item contributing to the net difference being quantified within the reconciliation statement.


Fracking is a method of accessing and extracting natural gas and oil.
Another example is the comparison of a physical count of stock or other assets, compared with the amounts in financial or other records.


Fracking is an abbreviation for ''hydraulic fracturing.''
Reconciliation checks are an important feature of internal control systems, to provide additional assurance about the completeness and accuracy of recording financial and other information.


2.
A quantified explanation of the change in any balance, over a time period.


It involves injecting fluid under high pressure into deep rock formations to create - and hold open - cracks through which deposits of gas and oil can be extracted.
Sometimes abbreviated to 'rec'.
 
Opponents of fracking highlight its environmental risks including methane leakage and increased risk of earthquakes.
 


== See also ==
== See also ==
* [[Biofuel]]
* [[Bank reconciliation]]
* [[Blue hydrogen]]
* [[Full reconciliation]]
* [[Brown hydrogen]]
* [[Tax reconciliation]]
* [[Carbon]]
* [[Decarbonise]]
* [[Fossil fuel]]
* [[Green hydrogen]]
* [[Grey hydrogen]]
* [[Hydrocarbon]]
* [[Hydrogen]]
* [[Methane]]
* [[Pink hydrogen]]
* [[Renewables]]
* [[Solar PV]]
* [[Sustainability]]
* [[Turquoise hydrogen]]
* [[White hydrogen]]
* [[Yellow hydrogen]]


[[Category:The_business_context]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Risk_frameworks]]
[[Category:Risk_reporting]]

Revision as of 14:20, 23 October 2012

1. Accounting. A quantified explanation of the differences between two related amounts. For example, an accounting reconciliation of reported operating profit to net operating cash flows. This statement explains why the figure for accounting profit differs from the net operating cash flows for the same period. Each item contributing to the net difference being quantified within the reconciliation statement.

Another example is the comparison of a physical count of stock or other assets, compared with the amounts in financial or other records.

Reconciliation checks are an important feature of internal control systems, to provide additional assurance about the completeness and accuracy of recording financial and other information.

2. A quantified explanation of the change in any balance, over a time period.

Sometimes abbreviated to 'rec'.

See also