Every type of company will, of course, tailor its chart of accounts, procedures, subsidiary records, etc., to meet its own operating and organizational needs and the philosophy of its management. Chart Of Accounts [COA] for petroleum exploration and producing companies is unusual because they may include the accounts needed for either successful efforts method or the full cost method adopted. In this post, however, for a comprehensive illustration, the charts of accounts include additional accounts needed for full cost accounting. [...]